Who would not have liked to buy their parents house at the price their parents paid 20 years ago?
And despite the saying ” a rising tide lifts all ships”
True, but in the case of Melbourne house prices, it has not lifted them all equally as there has been a dramatic widening of the divide which separates the old middle-class suburbs south and east of the Yarra from the old working-class suburbs on the other side of the river.
Here’s what Domain found:
These were the most expensive Melbourne suburbs in 1995.
And yes those prices seemed very expensive in those days.
Fast forward 20 years:
By 2015, Melbourne’s 50 most expensive suburbs all had a median above $1 million.
Some suburbs significantly outperformed the averages:
And some suburbs underperformed:
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.