By Alesha Capone
Wyndham’s suburbs have all recorded an annual growth in median house prices, with Williams Landing, Wyndham Vale and Point Cook leading the way.
Figures released by the Real Estate Institute of Victoria (REIV) last week show that the median house price in Williams Landing surged by 20.4 per cent between March, 2020 and March, 2021 (from $645,000 to $777,000).
The median price for a Wyndham Vale house increased by 9.8 per cent (from $467,000 to $513,000) and Point Cook’s rose by 9.7 per cent (from $540,000 to $565,000).
Medians in Hoppers Crossing and Tarneit, which share a postcode, both grew by 4.6 per cent – from $540,000 to $565,000 in Hoppers Crossing and from $555,000 to $581,000 in Tarneit.
Median house prices in Manor Lakes increased 4.2 per cent (from $547,000 to $594,000).
Elsewhere in Wyndham, houses in Truganina experienced a 1.7 per cent growth in median prices (from $570,000 to $595,000) and 1.12 per cent in Werribee (from $532,000 to $538,000).
According to the REIV, the median house price in metropolitan Melbourne reached $1.004 million this March.
Between January 1 and March 31 this year, there was a total of 845 house, unit and apartment sales across the Wyndham municipality.
Point Cook led the way with 263 sales, followed by Tarneit with 163 sales and Werribee, 148 sales.
There were 110 sales in Hoppers Crossing, 77 in Wyndham Vale, 44 in Manor Lakes and 30 in Williams Landing.
Werribee South recorded 10 sales.
Across Victoria, there was an estimated 35,000 residential real estate transactions in the March quarter, the highest since the March 2015 quarter.
REIV president Leah Calnan said she expected the market to gradually settle as life returns to normal following a tumultuous 2020.
“Market statistics show unprecedented levels of buyer interest across Victoria,” she said.
“House prices have been boosted by incentives for First Home Buyers, mortgage repayment holidays, and low interest rates.
“High demand across the state has also been fuelled by an increase in activity following Victoria’s lockdowns which saw thousands of auctions cancelled.”
