Median house prices in Sunshine grew by a staggering 18.3 per cent to $520,000 in the year to September last year.
The Brimbank suburb was joined by Cairnlea, Derrimut and Deer Park as top performers across the west in the latest Victorian Property Sales Report, which reveals Melbourne’s house prices in suburbs with 10 or more sales.
Cairnlea’s median price climbed to $527,500 in September last year – up 15.3 per cent from the year before, despite a decline in the September quarter.
In the outer north-west, median prices grew the most in Taylors Hill – by 7.4 per cent to $523,500.
In Caroline Springs, the median price rose by 5.8 per cent to $455,000.
Sydenham grew the most of Brimbank’s suburbs in the three months to September last year, with a 5.3 per cent increase bringing the median price to $416,000.
St Albans had the most house sales – 305 – for the year to September 2014; that was 4 per cent up on the previous year.
There were also 111 units sold, at a median price of $307,400.
Bells Real Estate agent Robert Christakakis said the high number of sales in St Albans might be an overflow from the “huge uptake” of people moving into Sunshine, where 101 houses were sold in the year to September.
“People who are shopping around in one area might look at neighbouring suburbs and buy there instead,” Mr Christakakis said.
“St Albans has everything already there in terms of infrastructure, schools and shopping centres – it’s established, as is the access to the city via the Western Ring Road.”
Caroline Springs had the most property sales of Brimbank’s neighbouring suburbs, with 389 sales in the 12 months to September.
In Caroline Springs, 42 units were sold in 2014 at a median price of $395,000 – an increase of 13.7 per cent.
Mr Christakakis said the suburb was attracting a variety of buyers, ranging from investors to families.
“It’s often about upsizing … growing young families who need something bigger or people moving from Deer Park or Sunshine to a bigger place,” he said.
Victorian valuer-general Robert Marsh said statewide house sales data for the quarter ending September last year indicated that the state median house sale price decreased by 3.4 per cent to $445,000.
He said metropolitan house prices fell by 5.4per cent to $530,000 and regional Victoria house prices dropped by 3.3 per cent to $290,000.
