By VANESSA VALENZUELA
KINGS Park, Deer Park and Sunshine West are among the most affordable suburbs in Melbourne, according to new real estate figures.
Real Estate Institute of Victoria data reveals median house prices in Kings Park dropped to $331,000 in the December quarter last year, making it one of the cheapest suburbs in Brimbank.
In Deer Park and Sunshine West the median house price dropped slightly, reaching $340,000 at the end of last year.
Keilor remains the most expensive suburb in Brimbank despite house prices plummeting more than 16.3 per cent in the last quarter.
House prices dropped from $645,000 during the September quarter to $540,000 in the December quarter.
House prices in Cairnlea have significantly dropped in the last quarter, with an 18.3 per cent decrease, the median house price hitting $436,000 at the end of last year.
“Overall transaction numbers remain low in historical terms and that may cause some ongoing fluctuations, but if improvements in confidence continue 2013 will see improved activity and an increase in sale values,” REIV CEO Enzo Raimondo said.
Taylors Real Estate sales executive Peter Tran said it is a great time to buy or sell a home in Melbourne’s West.
“It’s a misconception out there by other agents that it’s quiet and not a good time to sell, but we have experience with the exact opposite,” Mr Tran said.
“In this day and age, from an office that’s open during Christmas, it doesn’t matter whether its rain, hail or sunshine. Now is a great time to buy because the market is slightly flat and transparent.”
He said many home buyers spend the holiday period looking for homes with their families.
“Being the holiday period, all the decision makers are at home so they don’t have to go back and forth,” he said.
“We do find that the quality of buyers is much better too because the ones that aren’t looking will go on holidays and the ones that are looking don’t go.”
