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Median property prices in Melbourne begin to settle

By Jamil Allouche

It's nothing new to note the strength of Australia's property markets over the last year, with Melbourne undergoing some incredible leaps in value over the last few months alone. However, after experiencing a 2.1 per cent growth in values during the second quarter, prices are starting to moderate and steady up. 

This could be great news for those interested in buying real estate in Brunswick. Real Estate Institute of Victoria chief executive officer Enzo Raimondo said the organisation's data showed that at the end of September, the median house price remained steady at $649,000 – the same as at the end of the last financial year. 

On the other hand, apartments only saw a slight increase over the quarter, rising by 1.2 per cent to $503,000. While auction figures have also increased, the steadying of prices offers some stability for the market following months of rapid value growth. 

"As buyers have been priced out of the higher-priced suburbs, they have looked for more affordable options further out, but with infrastructure such as schools and shopping," said Mr Raimondo in an 18 October statement. 

Now could be a great time to consider buying your own Brunswick property. Get in touch with a local real estate agent to begin researching the local options available to you today. 

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