June Quarter 2021 Market Update

By July 21, 2021 Market Update

The median house price in Melbourne for the June quarter is $1,010,000, according to data released from the Real Estate Institute of Victoria.

The report reveals that Melbourne prices have barely increased, only 0.2%, but are holding above the $1,000,000 following the 8.8% spike in median prices in the March Quarter.

Regional Victoria recorded the highest increase in median house prices with a 10.5% quarterly increase and almost a 20% annual rise. This is the largest growth on record for regional Victoria. It should come as no surprise as many Melbournians are fleeing the city and moving to either regional Victoria or to the northern states. The strict covid lockdown restrictions in Melbourne and the realisation by many that they can work from home, has prompted many people to re-evaluate their future and look for a better life balance.

In the Manningham area whilst some suburbs recorded an increase in prices for the quarter, there were just as many suburbs that recorded a decrease. A more accurate reflection in price trends is the annual change in prices, with all postcodes in Manningham recording an overall increase in house prices.

Median House Prices in Manningham June 2021 Median Price March 2021 Median Price Quarterly Change Annual Change
Bulleen $1,319,250 $1,360,000 -3.0% +4.5%
Doncaster $1,460,000 $1,461,000 # -0.1% +7.5%
Doncaster East $1,500,000 $1,405,000 # +6.8% +14.4%
Donvale $1,525,000 $1,302,500 +17.1% +2.9%
Park Orchards* $1,752,000 $1,920,000 -8.8% +2.1%
Templestowe $1,651,000 $1,675,000 # -1.4% +9.1%
Templestowe Lower $1,445,000 $1,270,000 +13.8% +5.7%
Warrandyte* $1,635,000 $1,387,500 # +17.8% +30.0%
Melbourne $1,010,000 $1,008,000 # -0.2% +11.7%

 

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.

Photo by R ARCHITECTURE on Unsplash

About The Author
Paul Kounnas

Paul Kounnas

For nearly 40 years, Paul Kounnas has been helping people buy and sell property in and around the Manningham area. In 1993 Paul established Hudson Bond Real Estate and he is recognised as one of the most respected, prominent and knowledgeable members of his profession. A licensed Real Estate Agent and member of the REIV and the International Real Estate Federation (FIABCI), Paul provides regular expert advice and information on all matters relating to real estate.

Appraise my property for FREE

  • This field is for validation purposes and should be left unchanged.