By NATALIE GALLENTI
MEDIAN house prices across the City of Melton continue to increase in some areas while falling in others.
June quarter figures from the Real Estate Institute of Victoria revealed house and unit prices fizzled in Caroline Springs, Hillside, Melton and Melton South.
The biggest crash was in Burnside, where prices tumbled by almost 16.5 per cent from $410,000 in March this year to $342,500 in June.
Yet the neighbouring suburb of Burnside Heights recorded a 4.5 per cent increase, from $415,000 to $433,500. Melton West and Taylors Hill also recorded significant increases.
The nearby suburbs of Sunshine, St Albans and Sunbury all recorded slight decreases, while house prices in Werribee improved slightly.
The median price of a house in Melbourne rose slightly in the June quarter with a 2.4 per cent increase to $562,000 from $549,000 in the March quarter.
REIV chief executive officer Enzo Raimondo said that the improvements recorded over the past few months had been retained this quarter and Melbourne was still on track for moderate growth in 2013.
“Conditions for both buyers and sellers look very solid in the lead-up to the spring selling season. Unlike last year there are more active buyers looking for a home and this is driving moderate price growth,” Mr Raimondo said.
“Interest rates are low, consumer sentiment has improved, and clearance rates are higher. Those considering buying or selling should take advantage of these improved conditions.”
