Melbourne eastern suburbs house prices 2011 - 2014

After reading a lot about house prices in Melbourne rising, falling, rising, falling it started to confuse me weather my house price was going up or down. We brought a 4 bedroom, 2 bathroom, double garage, 2 living room house in Rowville (less than 30 mins to city) in mid 2011 for $540,000, at the time i think i over paid about $10,000 but you do what you have to do to get into the market.

The house next door just sold yesterday (nearly 2014) 3 bedrooms, 2 bathrooms, same size block if not smaller, single driveway with carport, 1 living room and not as modern as ours, they do have a better garden though for $530,000. At the time we brought our house no 3 bedroom house was selling for over $500,000.

So I think prices have gone up 30 - $40,000 from 2011 - 2014, does anyone agree? or is it the same or different in the area you live? thanks
its just interesting to know whats happening in other suburbs, i found when i was looking for houses (3 months straight) I started to know roughly what houses would sell for before they sold because I was looking at every 4 bedroom house in the area and keeping track what they sold for. When the house next door went up for sale I thought it would sell for around $492,000 from what i remember about house prices back in 2011. I just think the media is wrong and the people looking to buy in areas are the best people to ask about price