Mixed bag in house prices


Tara Murray

House sellers in Keilor and Taylors Hill were among the big winners in the last quarter according to new Real Estate Institute of Victoria data.

The latest figures for the September quarter showed that the median house price in metropolitan Melbourne had increased by six per cent on the previous quarter.

In Brimbank, it was a mixed bag with a number of suburbs recording good results, while the median house price fell in other suburbs.

In Keilor, the median house price rose 16.2 per cent in the last quarter with the median house price now $1,150,000.

Neighbouring suburbs Keilor Park and Keilor Downs also recorded higher median price increases than the Melbourne average.

Taylors Hill was the other big winner, with the median house sale price increasing by 15.5 per cent.

The median house price in Taylors Hill is now $885,000.

Caroline Springs (9.9 per cent), Kealba (9.5 per cent), Braybrook (8.5 per cent) all had substantial growth.

Derrimut, and Taylors Lakes also had a median price increase higher than the Melbourne median increase.

Sydenham, which recorded a 22 per cent increase in the last quarter, only increased by 2.6 per cent.

At the other end of the scale, the median house price dropped in some suburbs.

It fell by 4.4 per cent in Deer Park, 1.9 per cent in St Albans, 1.3 per cent in Sunshine West and 0.5 per cent in Fraser Rise.