By Alesha Capone
THE total value of homes within Wyndham has increased the most out of all Victoria’s municipalities, new figures show.
In the latest statistics from Property Victoria, from the 2010 revaluation of the state, the entire worth of private property in Wyndham increased by 33 per cent.
The value of all homes in Wyndham’s increased from $18.4 billion in 2008 compared to $24.5 billion this year.
Brimbank was next on the list, with a 30 per cent increase to $24.5 billion.
“These increases in value were mainly due to a larger number of assessments in these municipalities as a result of new housing developments,” the Property Victoria report said.
The data, from work completed by the Valuer-General Victoria, re-calculated the property worth in all of the state’s 79 municipalities.
The news comes as the latest quarterly figures from the Real Estate Institute of Victoria (REIV) showed house prices in Wyndham rose dramatically from March to September this year, despite a mid-year dip during June.
“Driven by population growth, a number of the city’s growth suburbs, such as Roxburgh Park, Craigieburn, Tarneit and Werribee, also featured in the best performing suburbs,” said REIV CEO Enzo Raimondo.
Houses in Point Cook recorded a median price of $500,000 in September, compared to $421,000 during March.
Tarneit houses hit an average value of $370,000 last month, after $334,000 earlier in the year.
Hoppers Crossing houses rose to $340,000 from $290,000, while Truganina homes experienced a median of $325,000 in September after their March average of $274,500.
Werribee houses sold for an average of $320,000 next to $262,250.
In addition, Wyndham Vale went from $275,000 in March to $306,000 last month.
