Wyndham’s real estate market remains strong, with many suburbs experiencing a rise in median house prices during the June quarter of this year.
Figures from the Real Estate Institute of Victoria (REIV) show that between April and June, Wyndham Vale recorded the highest rise in median house values out of all the municipality’s suburbs. During this quarter Wyndham Vale’s median house prices increased by 10.8 per cent to $450,000.
The REIV data showed:
•Hoppers Crossing median house prices rose 8.3 per cent to reach $520,000.
•Werribee’s median house prices increased by 6.5 per cent to $462,000.
•Tarneit median house prices went up by 4.1 per cent to $510,000.
•Point Cook median house prices increased by 1.2 per cent to $600,000.
Within Truganina, Williams Landing and Little River, there were fewer than 30 house sales in the June quarter. The median price for a house in metropolitan Melbourne rose 2.9 per cent to $822,000 over the same period.
REIV’s acting president Richard Simpson said Melbourne’s property market was continuing to perform strongly, with more than 10,300 homes selling from April to June.
A director of the YPA Wyndham City real estate agency, James Antonio, said that all of Wyndham’s suburbs remained popular with buyers, especially with investors looking to spend $500,000 and under.
Mr Antonio said in the six-and-a-half years his agency had been operating, June had been their “best month on record” in terms of sales.
In that month the agency sold four houses for more than $1 million: two houses in Hoppers Crossing sold for $1.4 million and $1.5 million respectively, a Werribee South house on 15 acres sold for $2 million and a Laverton house sold for $2.3 million.
Mr Antonio said that in Wyndham it was more common to sell one house valued at $1 million or more per quarter.
“I think buyer confidence is really strong and people don’t mind spending that money because they are confident the market is moving forward,” Mr Antonio said.
He said that while many home owners held off selling their house until spring, winter was typically the best time to put a property on the market, “to beat the spring rush”.
