Regional Victoria's most expensive towns
Author: Geoff White
Date: 16 Aug 16
While home to some of the state’s most affordable locations, a number of towns in regional Victoria have median house prices to rival their city counterparts.
In the year to June 30, the ever-popular Barwon Heads on the Bellarine Peninsula recorded the highest median house price in regional Victoria, at $835,000 – significantly higher than the metropolitan Melbourne median of $725,000.
With a median house price of $780,000, the Ballarat suburb of Lake Wendouree also outperformed the state’s capital. The suburb has experienced significant price growth of more than 25 per cent over the year.
High median house prices were also recorded in a number of coastal towns within commuting distance of Melbourne.
Growth in these areas indicates continuing buyer demand for locations which offer space, lifestyle and infrastructure with access to quality amenities.
In the 12 months to June 30, Lorne on the Great Ocean Road was also popular with buyers, recording a median house price of $750,000 – more than double the statewide median of $347,000.
Closer to Melbourne – yet still on the Surf Coast - Anglesea and Torquay also made the list of most expensive towns in regional Victoria, with median house prices of $685,000 and $680,000 respectively. Both locations have experienced double-digit price growth in the past year.
Nearby Jan Juc was another strong performer with a median house price of $615,000.
House prices in regional Victoria’s largest city, Geelong, have also increased significantly over the year, pushing the median house price to a record high $668,000.
Other towns making the list of most expensive regional locations include the Geelong suburb of Newtown, where the median house price is $632,500; Gisborne, north-west of Melbourne, with a median price of $603,000; and Point Lonsdale, with a median house price of $600,000.
Article Courtesy of reiv.com.au