Melbourne’s median house price has reached another record high, new figures show, soaring to $1,101,612 in the final three months of 2021 on the back of buyers rushing back to the market after the city’s sixth lockdown.
“There was a really strong reaction from buyers wanting to get their new homes while they could when things reopened.” Melbourne’s south-east region, which includes Glen Waverley and the first-home buyer hotspots of Clyde North and Cranbourne North, closely followed, with house prices up by 9.4 per cent to $788,000 and units by 9 per cent to $570,000.
Tara and Steve McCormack were clear on what they wanted when they bought a smaller townhouse in Beaumaris in December. “The reason we felt we could go and bid was because we had our finances in place. But I do feel for anyone trying to get into the market right now.”