The Melbourne median house price for the December quarter hit an all-time high of $859,000, exceeding the previous recorded highest price of $850,000.
According to data sourced from the REIV house prices throughout the majority of metropolitan Melbourne have risen, averaging an overall price increase of 3.7% for the December quarter.
This is the second quarter of consecutive house price growth. Before the turn around in the market, which started mid-last year, we previously had five consecutive quarters of decline. It is pleasing to see the end of falling house prices, but we don’t want house prices spiralling out of control again either.
The Melbourne median unit price also rose by a sizable 3.8% to $639,000.
All of Manningham’s suburbs recorded an increase in the median price for the quarter except for Donvale which remained the same.
| Median House Prices in Manningham | December 2019 Median Price | September 2019 Median Price | Quarterly Change | Annual Change |
| Bulleen | $1,250,000 | $1,117,000 | +11.9% | -9.1% |
| Doncaster | $1,295,000 | $1,285,500 | +0.7% | -3.1% |
| Doncaster East | $1,278,000 | $1,177,500 | +8.5% | -1.6% |
| Donvale* | $1,350,000 | $1,350,000 | 0.0% | +2.3% |
| Park Orchards* | $1,940,000 | $1,425,000 | +36.1% | +11.1% |
| Templestowe | $1,415,000 | $1,400,000 | +1.1% | -4.3% |
| Templestowe Lower* | $1,200,000 | $1,100,000 | +9.1% | -6.1% |
| Warrandyte* | $1,425,000 | $1,060,000 | +34.4% | -3.3% |
| Melbourne | $859,500 | $829,000 | +3.7% | -1.2% |
Median House Price Data sourced from REIV
* Indicates a median price based on a small sample (less than 30 sales).
# Indicates a revised median price from what was reported last quarter.
