Median Prices on the Rise in Victoria

Seems like the median prices of property in Victoria is on the rise or at least stable.

"REIV December quarter median prices reveal that house and unit values have remained relatively stable over the quarter.

The median house price in metropolitan Melbourne was $550,000, representing a minor increase of 1.9% from a revised September quarter median of $540,000."

You can't extract meaningful data from such a small time frame. Too many variables that spike the data (up or down). Smooth the mean over 1,2,5,&10yrs time frames to give yourself some perspective for short to long term trends.

The Freckle

The Freckle

Could just be that there was a new development in the area. These are usually higher in price than the standard. Sell a few of those and it looks like p[rices have risen. Same as when an old area has lots of sales of properties that have been renovated. Looks like a price hike but it doesn't show the money spent on upgrading the houses..

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