{"id":5833,"date":"2018-01-05T20:52:32","date_gmt":"2018-01-05T09:52:32","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/?p=5833"},"modified":"2018-01-05T20:52:32","modified_gmt":"2018-01-05T09:52:32","slug":"great-year-market","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/real-estate\/great-year-market\/","title":{"rendered":"Great year for market"},"content":{"rendered":"

It\u2019s been an exceptional year for Victoria\u2019s property market, with capital growth of 7.9 per cent and a record high regional median house price of $385,000.<\/strong><\/p>\n

In the Surf Coast, strong buyer demand saw house prices in the municipality increase 6.5 per cent over the year to a median of $728,500. This is significantly higher than the median house price in nine metropolitan municipalities including Brimbank ($630,000), Hume ($520,000) and Greater Dandenong ($680,000).<\/p>\n

Lorne was the main driver of this growth with its median house price rising 28.3 per cent over the year to $952,500 \u2013 an increase of $210,000 on September 2016 figures.<\/p>\n

Houses in the coastal town now command a higher price than the metropolitan Melbourne median house price ($817,000) and are almost on par with those in the city\u2019s middle ring ($985,500).<\/p>\n

Significant capital gains were also recorded in nearby Jan Juc, where the median house price increased 22.9 per cent over the year to $775,000. This was an increase of $134,000 on the same period last year.<\/p>\n

House prices in Torquay and Aireys Inlet experienced more moderate growth, up 5.8 and 3.6 per cent respectively. This has boosted Torquay\u2019s median house price to $720,000 while Aireys Inlet has a median house price of $705,000.<\/p>\n

While the region has already benefitted from strong price growth in Geelong, new infrastructure commitments such as the Surf Coast Rail Project will add value to the municipality.<\/p>\n

The $110 million project will prepare for duplication between South Geelong and Waurn Ponds, as well as reserve land for a future train line to Torquay. Once completed, these projects are expected to increase the attractiveness of the region for commuters, driving long-term price growth.<\/p>\n

For more information on median house prices or region, head to reiv.com.au\/market-insights.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s been an exceptional year for Victoria\u2019s property market, with capital growth of 7.9 per cent and a record high regional median house price of $385,000. In the Surf Coast, strong buyer demand saw house prices in the municipality increase 6.5 per cent over the year to a median of $728,500. This is significantly higher […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":54,"featured_media":5253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[29],"tags":[],"post_folder":[],"class_list":["post-5833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"\nGreat year for market - Surf Coast Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/real-estate\/great-year-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Great year for market - Surf Coast Times\" \/>\n<meta property=\"og:description\" content=\"It\u2019s been an exceptional year for Victoria\u2019s property market, with capital growth of 7.9 per cent and a record high regional median house price of $385,000. 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