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Median House Values Climb in Melbourne

By Matt Hurlston

Melbourne's median house value grew by 10.7 per cent in 2013, according to the latest figures from RP Data.

Over the 12 months to December 2013, the median house value in Melbourne increased by $39,603 to reach $44,043.

Investors who own real estate in Carnegie could be interested to hear the median property value has crept closer to $1 million, recorded at $930,460 in December 2013.

This is a 4.9 per cent climb from $887,001 in December 2012.

Following current growth trends, the value of real estate in Carnegie could reach over $1 million in 2014, joining neighbours Ormond, Caulfield and Bentleigh.

Malvern East real estate has also performed strongly, with the median value increasing by 18.8 per cent from $1 million in December 2012, to $1.2 million in December 2013.

This made the suburb the seventh fastest growing area in 2013 in terms of median dwelling value.

If you are interested in buying property in one of these high-value suburbs, or are thinking about selling real estate while prices are high, get in touch with real estate professional Matthew Hurlston at Ray White Carnegie today.

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