RP Data’s latest February CoreLogic Data Home Value Index results have shown that dwelling prices in Melbourne rose at a greater rate over the past three months than in any other capital city.
Along with strong auction clearance rates of late (80% over the past weekend), Melbourne’s strong residential market is placing sellers in good stead.
These results are also set to “encourage a rise in listings over the next few months and provide buyers with good choice in April and May.”
So how much have dwelling prices actually risen?
In the last three months alone, house values have risen some 4.8%, or 0.2% over the last month. The median sales price is now estimated at $549,000.
And for units?
In the last three months, unit values have risen by 1.8% or 0.5% over the last month. The median sales price is estimated at $450,000.
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