MEDIAN house prices in Tarneit, Point Cook and Wyndham Vale have bucked the statewide trend, of the year.
Figures from the Real Estate Institute of Victoria reveal house prices across metropolitan Melbourne remained flat between December last year and March this year, with an average increase of 0.9 per cent recorded across all suburbs.
However, median prices in Tarneit jumped 11 per cent from $348,944 to $387,500 – the fifth highest increase in the state.
In Point Cook, average prices increased 4.7 per cent from $450,000 to $470,000 making it Wyndham’s most expensive suburb.
Median prices in Wyndham Vale rose 2.5 per cent, up from $300,000 to $307,500.
REIV chief executive Enzo Raimondo said strong demand for houses, particularly in Tarneit, had driven median prices up in the March quarter. However, Westwood First National Real Estate director Rob Westwood said prospective home buyers should not be put off by the latest figures saying they were not an accurate representation of the demand for houses across the municipality.
“The figures do not reflect that the prices are rising as a whole in Wyndham,” he said.
“The prices are average sale prices and only reflect that the properties that have sold in the last quarter are at a higher price than in the December quarter.
“That could be because there were more higher priced properties sold during the quarter driving prices up.”
Across the rest of Wyndham, Werribee, Hoppers Crossing and Truganina, Hoppers Crossing and Truganina all recorded a drop in median prices.
In Werribee, prices fell 1.9 per cent, Truganina 0.7 per cent and 6.2 per cent in Hoppers Crossing, where the median house price slid from 339,500 to $310,000.
