Four of the most expensive suburbs for units had medians up $250,000 more than that.Units in some of Melbourne’s leafy eastern suburbs are more expensive than a typical home, data shows.
Highly prized Brighton and Toorak made the top three suburbs with median unit prices of $1,135,000 and $927,550, respectively. She said many higher-priced units were likely to attract downsizers who may have sold a large family home in the same area for a sizable profit.“For these types of buyers, it’s probably not about space, it’s not about that backyard, it’s actually about proximity to a particular location or living in a blue chip suburb – a tightly held suburb,” she said.
He said many of the units in the suburb were actually townhouses, much larger than a typical apartment or villa and essentially “mini-mansions” – something older buyers in the area favoured. A little further north in neighbouring suburbs Balwyn and Surrey Hills, young professionals were also active in the unit market, said David Ferro of Jellis Craig.
Away from the tree-lined streets of the east, Toorak and Fitzroy in the inner city and Brighton and Hampton in the bayside suburbs made up the rest of the top ten.
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