Michaela Meade
Brimbank’s real estate market is hotting up, with sales on the rise in 11 of the municipality’s suburbs, according to a new report.
The Spring 2021 Price Predictor Index, issued by residential property researcher and writer Terry Ryder through his investment advice website Hotspotting.com, reveals that house sales are increasing in Albanvale, Deer Park, Keilor, Keilor East, Kings Park, St Albans, Sunshine, Sunshine North, Sunshine West, Sydenham, and Taylors Lakes.
According to the report, the real estate market is reporting an increase in interest from buyers across most of Melbourne.
“The number of plateau markets is the lowest we have recorded in six years,” the report said.
“The 76 per cent of suburbs with rising sales volumes is the highest percentage of all the market jurisdictions across Australia – and 94 per cent of Melbourne suburbs have recorded growth in their median house prices in the past 12 months.”
Albion, Ardeer, Cairnlea, Delahey, Derrimut, and Keilor Downs were revealed to have plateauing markets.
Meanwhile, Real Estate Institute of Victoria (REIV) data reveals that Albanvale and Sydenham had the largest annual growth in median sale price in Brimbank in the 12 months from June, 2020, to June, 2021.
Albanvale’s median house price increased from $514,000 in June,2020, to $585,000 in June, 2021, an increase of 13.8 per cent.
Sydenham’s median house price jumped 11.9 per cent, from $599,750 to $671,000 over the same period.
Ardeer’s median house price had an increase of 17 per cent, from $582,500 to $681,500, while Delahey jumped 11.5 per cent from T3,000 to $605,500 over the same period.
“This growth can be attributed to the relative affordability – Brimbank’s popularity is rising because the median prices in its suburbs areas are comparatively affordable to other Melbourne postcodes,” an REIV spokesperson said.
“Strong infrastructure investment in the west would be a contributing factor, as would the movement of Geelong-based passengers travelling to the CBD via Sunshine.”
