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Prices on the up in Victorian capital

By Jamil Allouche

As a property investor, you're no doubt constantly on the lookout for new opportunities – and Melbourne could be just the place you're after.

RP Data was commissioned by NAB to carry out the Australian Housing Market Report, which showed property prices have increased considerably across Melbourne and its suburbs.

There's good news if you've already invested in real estate in Brunswick, as house prices gained 8.5 per cent over the year to September, while units were valued 5.2 per cent higher.

Long-term investors will also be glad to hear that these increases haven't just been limited to recent months, as house prices have escalated 4.4 per cent annually over the past five years. Units, on the other hand, have gained 3.1 per cent over the same period.

"This report shows home values are continuing to increase, a trend that started in June 2012, but that growth has moderated a little in recent months," explained general manager of home lending at NAB Melissa Reynolds.

Melbourne's median house price currently stands at $590,000, while the average price of a unit is recorded at $460,000.

Ray White Brunswick is on hand to help you find your ideal property in the area, so why not get in touch?

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