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June Quarter Melbourne Median House Price Increase Good For Sellers

By Angela Hill

Taking advantage of the active Melbourne market could be fantastic for anyone looking to sell their property in Brunswick, as the median house price in the city continues to increase – gearing up towards a fruitful spring season market.

The median house price in Melbourne increased slightly in June, growing 2.4 per cent to an average of $562,000 throughout the Victoria capital.

Enzo Raimondo, chief executive of the Real Estate Institute of Victoria (REIV), said in a July 19 statement that active buyers were driving up the market costs, with conditions for both buyers and sellers indicating a solid spring season for real estate transactions.

"Interest rates are low, consumer sentiment has improved, and clearance rates are higher. Those considering buying or selling should take advantage of these improved conditions," Mr Raimondo said.

The median prices for units and apartments throughout the city also increased during the June quarter – increasing 2.8 per cent and bringing the average price to a seasonally-adjusted $464,500.

Throughout the city, median rents remained relatively stable except for two bedroom homes in middle suburbs, which rose by 4.5 per cent.

If you're interested in buying or selling property in Brunswick, get in contact with the team of real estate experts at Ray White Brunswick. Their advice and experience can help you to secure a fantastic property deal.

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