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Carnegie Real Estate ‘a Top 10 Growth Suburb’

By Matt Hurlston

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.”

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