November Median Prices Update (Victoria, Australia)

Metropolitan and regional

This data release from the REIV compares sales over the 12 months ending 30 November 2011 with the preceding year.

	Nov 11	Nov 10	Annual change	Nov 06	5 year change
Metropolitan Houses Median	$550,000	$546,000	0.7%	$370,000	48.7%
Metropolitan Unit and Apartment Median	$460,000	$460,000	0.0%	$315,000	46.0%
Regional Victoria Houses Median	$315,000	$300,000	5.0%	$247,500	27.3%

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Top 20 Annual Growth Suburbs

This data-set shows the top 20 suburbs ranked by the increase in the median house price in the 12 months ending 30 November 2011

	Suburb	Nov-11 Median	Nov-10 Median	Annual Change
1	Derrimut	$470,000	$400,000	17.5%
2	Healesville	$421,500	$369,000	14.2%
3	Taylors Lakes	$515,000	$460,000	12.0%
4	Cockatoo	$360,000	$330,000	9.1%
5	Caroline Springs	$450,000	$415,000	8.4%
6	Sunbury	$370,000	$342,000	8.2%
7	Chirnside Park	$487,500	$450,500	8.2%
8	Ivanhoe	$1,150,000	$1,062,500	8.2%
9	Melton	$291,500	$270,000	8.0%
10	Cranbourne Nth	$350,000	$324,000	8.0%
11	Williamstown	$900,000	$833,750	7.9%
12	Cairnlea	$516,500	$480,000	7.6%
13	Prahran	$1,022,500	$950,500	7.6%
14	Fitzroy	$881,000	$820,000	7.4%
15	Frankston Sth	$545,000	$510,000	6.9%
16	Wonga Park	$801,000	$750,000	6.8%
17	Truganina	$362,000	$340,000	6.5%
18	Kurunjang	$300,000	$282,500	6.2%
19	Cranbourne Wst	$320,600	$303,500	5.6%
20	Deer Park	$369,500	$350,000	5.6%

Note: Only suburbs where a minimum of 50 sales recorded in each year are included.

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Comparison of demand by area

This data-set shows the median price changes based on the distance from the CBD in the 12 months ending 30 November 2011.

Houses	Nov-11 Median	Nov-10 Median	Annual Change	Nov-06 Median	5 Year Change
INNER	$870,000	$900,000	-3.3%	$552,250	57.5%
MIDDLE	$610,000	$620,000	-1.6%	$390,000	56.4%
OUTER	$440,000	$437,000	0.7%	$300,000	46.7%
Units	Nov-11 Median	Nov-10 Median	Annual Change	Nov-06 Median	5 Year Change
INNER	$500,500	$512,000	-2.2%	$339,000	47.6%
MIDDLE	$476,000	$475,000	0.2%	$322,125	47.8%
OUTER	$355,500	$355,000	0.1%	$242,000	46.9%

Source: www.reiv.com.au