By ALESHA CAPONE AND CHARLENE MACAULAY
TEN homes in Brimbank have sold for the premium price of $1 million – or higher – in 12 months.
Figures from the Real Estate Institute of Victoria (REIV) reveal a Keilor home received the highest-recorded house price for Brimbank during 2013.
The three-bedroom residence in Arundel Rd fetched $1.35 million during December in a private sale.
In addition, a four-bedroom house on Borrell Street, Keilor East sold for $1.27 million during August.
Another of the area’s most expensive homes was in Thomson St, Sunshine, where a property sold for $1.42 million in February.
The average house price for the suburb is $445,000, which is the same in Caroline Springs across the border within the municipality of Melton.
Concidentally, a Caroline Springs abode has been crowned Melton’s most expensive home for 2013.
The area’s most expensive house, in Lauriston Quay, sold for $980,000 in April.
The four-bedroom, two-bathroom lakeside home included a formal lounge, theatre room, a kitchen with three types of ovens and a butler’s pantry.
In contrast, the most affordable home in the municipality – in Hume Ave, Melton South – sold for just $180,000.
Even more of a bargain was Brimbank’s cheapest home in Hall St, Sunshine West, which fetched $121,002.
Overall there were more than 2480 house, flat and unit sales in Brimbank during 2013. In Melton more than 1070 homes were sold.
The REIV’s Enzo Raimondo predicated the Melbourne property market would see a moderate price growth over 2014.
“The outlook for 2014 remains positive with price and sales growth expected to continue although at a more moderate pace than what we have seen in the past few months,” he said.
“The performance of the housing market next year would also be dependent on broader macroeconomic factors, in particular the unemployment rate and changes in consumer sentiment which could place some downward pressure on price growth in 2014.”
