Property prices boomed 12 per cent in 2014 according to figures recently released by the Valuer-General
This means Melbourne now has 17 new suburbs with a million-dollar median house price.
While many of Melbourne’s usual suspects have a seven-figure median house price, such as Toorak and Kew, postcodes such as Lysterfield South, Box Hill and Bentleigh also edged over the million-dollar mark last year.
Here’s what’s happened to Melbourne property values:
Source: The Age
Here’s a list of the Melbourne’s Million Dollar Suburbs:
Now just to make things clear, I’m not suggesting these are all good suburbs for investors to consider, but some are.
Then of course you’ve got to find the right properties in these suburbs, as it’s likely that growth in our properties markets is going to slow down over the next few years.
So what should you do if you’re looking to buy in Melbourne?
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