Unit medians continue to rise

The Real Estate Institute of Victoria’s quarterly reporting data shows that the median price of a unit or apartment in Regional Victoria is sitting at $292,500, up 4.9 per cent in the past 12 months.

The top 20 towns that have recorded the largest increases in their median unit price are dotted all over Regional Victoria.

Traralgon came out on top with a 32.7 per cent increase in the unit median price between September 2017 and September 2018 to $258,750. In Apollo Bay, the median unit price is sitting at $530,000, having increased 26.9 per cent and the median unit price soared 26.7 per cent in Drysdale to $399,000.

In Highton the median unit price increased 26.6 per cent to $440,000, Bright’s unit median price climbed 22 per cent to $375,000 and Ocean Grove’s unit media price went up 19.7 per cent to $760,000.

Lorne was number seven on the list with a 19 per cent increase in the median unit price to $672,500, followed by Horsham with a 17.3 per cent increase to $263,975, Belmont where the median unit price also climbed 17.3 per cent to $420,000 and Brown Hill rounded out the top 10 with a 17.1 per cent increase to $284,000.

Other towns to record increases in unit price of between 12 and 16 per cent included Torquay, Redan, Hamlyn Heights, Castlemaine, Mildura, Shepparton, Corio, Bairnsdale, Leopold and Ballarat North.

Visit reiv.com.au/market-insights to search your town’s latest sales results, median prices, trends and statistics.