http://www.theage.com.au/national/melbourne-median-house-price-hits-520000-20091003-ggvm.html
Melbourne median house price hits $520,000October 3, 2009 - 9:44AM
The median price of a house in Melbourne has increased by 6.4 per cent since August.
The Real Estate Institute of Victoria released the figures today, saying this was the highest increase it has ever recorded and a clear sign the residential property market had recovered from the global financial crisis.
The median price of a Melbourne home in September 2009 was $520,000, compared to $488,944 for the previous month.
Institute chief executive Enzo Raimondo said the rise has been driven by stronger than usual demand from an increasing population, record low interest rates and financial assistance for first home buyers.
"There is no doubt that the most significant factor at the moment is the supply shortage," he said.
He said the most significant price rise had been recorded in the inner suburbs.
AAP
Melbourne median house price hits $520,000October 3, 2009 - 9:44AM
The median price of a house in Melbourne has increased by 6.4 per cent since August.
The Real Estate Institute of Victoria released the figures today, saying this was the highest increase it has ever recorded and a clear sign the residential property market had recovered from the global financial crisis.
The median price of a Melbourne home in September 2009 was $520,000, compared to $488,944 for the previous month.
Institute chief executive Enzo Raimondo said the rise has been driven by stronger than usual demand from an increasing population, record low interest rates and financial assistance for first home buyers.
"There is no doubt that the most significant factor at the moment is the supply shortage," he said.
He said the most significant price rise had been recorded in the inner suburbs.
AAP
