Blackburn VIC going crazy

[GoingDHfast]

http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=blackburn

$1,271,000 median house price?? Can such a large jump be correct?

Some recently sold prices:
Sold for $1,126,000
http://www.realestate.com.au/property-house-vic-blackburn-114974823

Sold for $1,182,000
http://www.domain.com.au/Property/?adid=2010710938

Sold for $895,000
http://www.domain.com.au/Property/For-Sale/House/VIC/Blackburn/?adid=2010731851

Sold for $1,045,000
http://www.realestate.com.au/property-house-vic-blackburn-114921819

Sold for $970,000
http://www.realestate.com.au/property-house-vic-blackburn-115013363

 

[Aaron_C]

I don't think Blackburn has jumped per se....look like standard results to me.

 

[Property Hoarde]

It is not just Blackburn

I do not really follow Blackburn but some prices in Nunawading, Doncaster East ec.. lately have been a little crazy.

 

[GoingDHfast]

It is not just Blackburn

I do not really follow Blackburn but some prices in Nunawading, Doncaster East ec.. lately have been a little crazy.

I'm really just having a hard time believing that the median could realistically jump so much in such a short time.. I've been to a few auctions and I knew it was hot but this is just ridiculous.

For reference:
Doncaster East has gone up from $790,000 to $850,000
http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=doncaster east

Nunawading has dropped from $671,000 to $644,000
http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=nunawading

 

[Aaron_C]

I'm really just having a hard time believing that the median could realistically jump so much in such a short time.. I've been to a few auctions and I knew it was hot but this is just ridiculous.

Forget about median, it means nothing. Relax.

 

[Spades]

Doncaster rd has a alot of units going up.

PH agree re:nuna and de.

GDHF,More bang in the long term via glen wav as opposed to black imo.

Mitcham is worth consideration with the rw upgrade.

Cheers Spades.

 

[Property Hoarde]

[
Nunawading has dropped from $671,000 to $644,000
http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=nunawading

[/QUOTE]

That is not correct to what I have been seeing. I assume more Mount Pleasant Road units have been sold lately to bring the median down.

 

[GoingDHfast]

[
Nunawading has dropped from $671,000 to $644,000
http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=nunawading

That is not correct to what I have been seeing. I assume more Mount Pleasant Road units have been sold lately to bring the median down.[/QUOTE]

This figure is supposedly for houses only. Units have dropped from $531,000 to $506,000

 

[MRCCON]

I'm really just having a hard time believing that the median could realistically jump so much in such a short time.. I've been to a few auctions and I knew it was hot but this is just ridiculous.

For reference:
Doncaster East has gone up from $790,000 to $850,000
http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=doncaster east

Nunawading has dropped from $671,000 to $644,000
http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=vic&u=nunawading

Your first mistake is gauging the median off rs.com.au.

It could quite simply be the case(and often is) that the houses up for sale this month are purely better than last month.

Next month you might see a 15% drop in median because alot of dumps get sold.

It's incorrect.

 

[pieman]

Forget Blackburn if you're into property investment.

 

[dbun]

Forget Blackburn if you're into property investment.

+1

Good for PPOR if you want to live in the area, but not good for IP.