What chance does a single mum have? Fierce competition driving up rents in regional Victoria
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Michelle Attenborough knew the warning signs of homelessness after moving to Shepparton to help people struggling to make ends meet. The case worker soon realised she ticked many of those boxes herself.
Eight weeks after signing a short-term lease on a $240 per week apartment last February, her landlord sold it and the 49-year-old from Shepparton Families and Financial Services began a gruelling search for a new home.
Michelle Attenborough has had two rent increases since moving to Shepparton last February.
Melbourneâs median house price passes $1m for first time
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Melbourneâs median home price cracked the $1 million mark for the first time after a 9 per cent surge in value through the March quarter, Real Estate Institute of Victoria data has revealed.
The post-lockdown spike was the biggest price increase in metropolitan Melbourne since late 2009, following the global financial crisis, and brought the median house price in the city to $1,004,500.
REIV president Leah Calnan said there had been âunprecedented buyer interest across Victoriaâ and that the number of transactions during the quarter reached 35,000, the highest in six years.
Melbourne s median house price has surpassed $1million for the first time ever as the property market rebounds from the coronavirus pandemic.
The mid-point average for house prices in the city reached $1,004,500 by the end of March, according to data from the Real Estate Institute of Victoria.
The 8.8 per cent rise is the highest for the first quarter of the year since 2009 and comes as home prices jumped by 2.8 per cent across Australia in March.
Melbourne s steepest property price increases were in affluent inner-city and coastal suburbs including East Melbourne, Chelsea, Carrum and Edithvale.
A home in Brighton East, Melbourne with a guide price of $3.3-3.5million. The mid-point average for house prices in the Victorian capital has reached $1,004,500 - surpassing $1million for the first time ever
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.
Metro Melbourne surpasses $1m mark for the first time
By Bianca Dabu
16 April 2021
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1 minute read
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While it has lagged behind other capital cities in post-pandemic recovery, Melbourne has now cemented its resilience, recording price hikes across the state in the first quarter of 2021.
The Real Estate Institute of Victoria has flagged “one of the largest quarterly increases” in the state over the March 2021 quarter.
According to REIV data, house prices in Metropolitan Melbourne have soared 8.8 per cent to a median of $1,004,500 – the highest quarterly increase in 12 years and the first time that the area has surpassed the $1 million mark.