Market Update
The Real Estate Institute of Victoria’s (REIV) latest data confirmed Melbourne house prices have bounced back from the slump. The Melbourne median house price has jumped 4.5% to $830,000, reversing a two-year fall in house prices.
The increase in market confidence has been fuelled primarily by several interest rate cuts, an increase in loan approvals and the return of first home buyers to the market.
The Melbourne median unit and apartment price also increased by 3.9% from $590,500 to $613,500.
In Manningham the biggest increase in median house price was in Doncaster recording a 14.1% increase for the quarter but still down about 11% for the year, as are most of our other postcodes. The break-up of all the quarterly and annual figures for Manningham are shown in the table below.
Note that Warrandyte and Park Orchards registered a decrease in median price for the quarter but the number of sales in those areas, as with Bulleen, were less than 30 for the quarter.
| Median House Prices in Manningham | September 2019 Median Price | June 2019 Median Price | Quarterly Change | Annual Change |
| Bulleen* | $1,117,000 | $980,000 # | +14.0% | -13.7% |
| Doncaster | $1,277,500 | $1,120,000 # | +14.1% | -11.1% |
| Doncaster East | $1,180,000 | $1,138,000 | +3.7% | -11.2% |
| Donvale | $1,350,000 | $1,260,000# | +7.2% | +0.6% |
| Park Orchards* | $1,425,000 | $1,480,000 # | -2.4% | -2.7% |
| Templestowe | $1,375,000 | $1,340,000 | +2.6% | -8.8% |
| Templestowe Lower | $1,095,000 | $1,000,000 | +9.5% | -11.7% |
| Warrandyte* | $1,060,000 | $1,287,625 # | -17.7% | -7.7% |
| Melbourne | $830,000 | $794,000 # | +4.5% | -3.1% |
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
