Wyndham suburbs recorded varying growths and declines in median house prices across the municipality.
Real Estate Institute of Victoria’s latest data drop provides insight into the median house price for the third quarter comprising of July, August and September, reflected against the average amount needed to purchase a house in April, May and June.
In Hoppers Crossing, the quarterly difference indicated house prices were down 6.2 percent, with an average sale price of $610,000.
Purchase prices sat at $632,000 in Tarneit, with a decrease of 4.7 per cent and in Manor Lakes and Werribee, the average amount spent was $630,000 and $585,000, a decline of 3.1 and 2.5 per cent respectively.
YPA Werribee director Kirsty Cunningham said while people seemed to be a bit more financially cautious, it typical for the housing market to quieten this time of year.
“The market, in a sense, is still very active where we are,” she said.
Williams Landing recorded the highest price change, with a quarterly difference of 9.3 per cent and an $820,000 median sale price.
Truganina, Point Cook and Wyndham Vale also registered an increase in the quarterly price change, rising by 5, 2.9 and 1.3 per cent respectively.
The median sale price for each suburb was $680,000 in Truganina, $793,000 in Point Cook and $590,000 in Wyndham Vale.
Ms Cunningham said there were many factors that compelled home buyers to purchase in Wyndham.
“The growth here is massive, there’s good schooling, good facilities now, there’s lots of new cafes, lots of nice park lands,” she said.
“There’s been lots of changes and money spent [to improve the area].”
In metropolitan Melbourne, house prices fell 7.4 per cent during the quarter to $993,000.
REIV President Andrew Meehan said the September quarter had created attractive buying opportunities for Victorians.
“Lower median prices through the September Quarter have created new opportunities for Victorians to buy more affordably in Melbourne, particularly in the outer suburbs,” Mr Meehan said.
