National Brokers Network

Property Hotspots in Melbourne Revealed

A state-wide institute’s new data released revealed that one municipality in Melbourne is becoming a hotspot for properties. According to the Real Estate Institute of Victoria (REIV) multiple suburbs within the Nillumbik Shire council area are experiencing house price growth for the quarter.

Despite the decline in house prices in Melbourne, median prices, specifically in Elthan and Greensborough increased. Melbourne crashed to 1.4 per cent over the quarter to $793,000, while Elthan rose 7.3 per cent to $950,000 and Greensborough increased by 6 per cent up to $808,000 in the same quarter, according to $793,000, REIV president Robyn Waters.

“Melbourne’s Green Wedge Council proved to be our property hotspot for the first quarter of 2019 as the area’s idyllic surrounds and enviable lifestyle boosted house values. You can still get impressive family home with all the bells and whistles in this truly unique area of Melbourne for less than a million dollars,” Ms Waters told Smart Property Investment.

“Consistent with 2018 trends, some outer areas continue to do well, with Narre Warren South sitting second on the top 10 list for median house price growth with a 7.1 per cent increase, Mulgrave is at number four with a 4.7 per cent increase, and Point Cook in fifth place, also with a 4.7 per cent increase.

“Interestingly, we are also starting to see signs of recovery in Inner Melbourne, with Glen Iris and Balwyn North making the top 10 this quarter, recording increases of 4.3 per cent and 4.2 per cent, respectively,” she added.

REIV provided a list of the top metro suburbs that experiences house growth:

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In Consideration of the Vendor of the subject business, or any other business introduced to the Proposed Purchaser and their agent National Brokers Network (“the agent”) providing information to the Prospective Purchaser, the Prospective Purchaser agrees:

1. To keep all information provided confidential in respect to the subject business and any other business introduced to the Prospective Purchaser by the Agent.
2. That no information is to be disclosed by the Prospective Purchaser to any third party without consent by the Agent;
3. That it will not use for themselves. Or for others benefit, such information other than to Purchase the subject business or other business introduced by the Agent;
4. That any agreement to purchase the whole or portion of the business shall be exclusively through the Agent;
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6. Under no circumstances will the Prospective Purchaser make direct contact with the vendor of the subject business or other introduced business without the prior written consent of the Agent;
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