Hoppers Crossing house prices are nudging half a million dollars, recent sales data reveals.
The Real Estate Institute of Victoria’s March quarter figures show the median house price for Hoppers Crossing has gone up 7.9 per cent in the past three months to $480,000.
The suburb was the highest performing across Wyndham, with the Werribee median house price going up 3.3 per cent to $434,000, and Tarneit prices up 1.6 per cent to $490,000.
Point Cook and Wyndham Vale both recorded price decreases over the same period, while less than 30 properties sold in Truganina and Williams Landing apiece, rendering the median house price for the two suburbs statistically unsound.
Samantha McCarthy, from Hockingstuart Werribee, said Hoppers Crossing properties remained in high demand among buyers, with owners selling up earlier than originally intended to take advantage of the bidding wars.
Ms McCarthy said 98 per cent of Hoppers Crossing properties were being sold at auction, with at least three genuine bidders vying for each property.
“I haven’t seen any signs of things slowing down at all,” Ms McCarthy said.
Statewide, Melbourne’s median house price has recorded its strongest quarterly price growth since 2013, with prices jumping 7.6 per cent in the first three months of 2017 to a record high $826,000.
REIV president Joseph Walton said a range of factors had contributed to price growth.
“Melbourne’s property market is experiencing a perfect storm with price increases driven by strong buyer demand, solid population growth, record low interest rates and low stock on market,” Mr Walton said.
