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Melbourne House Prices Rise 3.2% in Q4

By Matt Hurlston

Melbourne house prices increased by a comfortable 3.2 per cent in 2013's fourth quarter according to the House Price Report: December Quarter 2013, released by the Australian Property Monitors (APM) this month.

House prices in Melbourne in the September quarter averaged $551,032. This climbed to $568,824 in the final quarter of last year. 

Real estate in Carnegie has consistently risen about Melbourne averages – the suburb's median house price in the fourth quarter crept well above $830,000, according to an RP Data February suburb profile.

The quarter-on-quarter increase for Melbourne comes on the back of strong growth in house prices over the year, too.

House prices soared 8.6 per cent year-on-year to December 2013.

This puts the Victorian capital behind only Sydney, but ahead of Perth and all other capital cities.

Melbourne's house price growth is solid according to the APM, which is a favourable outcome for owners of Carnegie, Oakleigh and Malvern East real estate.

The average house price in Melbourne during 2013's fourth quarter is higher than the city's previous peak during June 2010.

New records are being set for Melbourne real estate and the strong capital growth is good news for homeowners and investors.

If you're an owner of Carnegie real estate and are looking to sell, contact professional principal Matt Hurlston at Ray White Carnegie.

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