Melbourne's median house price hits record $1 million. Here's what you can buy for that

Melbourne's median house price hits record $1 million. Here's what you can buy for that
The median house price in Melbourne experienced its biggest rise since December 2009.
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The median house price in Melbourne has just has passed the $1 million mark for the first time, according to the latest data from the Real Estate Institute of Victoria (REIV).
Key points:
It was the biggest quarterly increase since December 2009
The median house price in regional Victoria passed $500,000 for the first time
REIV's quarterly report for March showed the median price for a house in metropolitan Melbourne jumped by 8.8 per cent, to $1,004,500.

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