Carnegie real estate has been listed by a peak industry body as being one of the highest growth suburbs in Victoria.
Statistics from the Real Estate Institute of Victoria (REIV) show the locale is number nine on its top 20 list of rapidly expanding areas, boasting near double-digit price growth in the December quarter last year.
The suburb experienced a 9.6 per cent leap in value during the three-month period, when compared with the September 2012 quarter.
According to REIV, the median price of a property in Carnegie climbed from $747,000 to $819,000, beating out other locations such as Yarraville and Fitzroy North, which saw 8.7 per cent and 8.4 per cent growth respectively.
Narre Warren South claimed the top spot on the listings, with growth of just under 20 per cent.
The organisation said confidence is on the up in the state’s real estate market, which could spell good news for those seeking out Carnegie real estate or homes in the surrounding areas.
“Auction listings until Easter are 20 per cent above the ten-year average,” the institute noted earlier this year.
“Whilst consumer confidence – partly driven by low interest rates and lower prices – remains better than a year ago the auction market will remain healthy.”
Melbourne’s rental market remains one of the most competitive and priciest in Australia, even as overall growth rates have softened in recent months. While some data shows quarterly changes easing or stabilising, rental levels are still significantly elevated compared to pre-pandemic norms — and many of the forces that drove … Read more
As the days grow shorter and the air turns crisp, fall is the perfect time to reset your home and prepare for the cooler months ahead. A little seasonal preparation not only keeps your space comfortable and efficient but also helps protect your home from wear and tear. Here’s how … Read more