General Overview of Melbourne Property
The Melbourne housing market pot is bubbling merrily and has been for most of the year, according to experts. Balwyn and Surrey Hills are just two to join the elite of Toorak and Brighton with million dollar price tags.
The five fastest growing suburbs are Middle Park, Mont Albert, Armadale, Carlton and Hawthorn, with housing prices ranging from $1.32 million in Middle Park to $990,000 in Hawthorn.
If you are in the market to buy a unit or apartment, the fastest-growing suburbs are Beaumaris, Kew East, Footscray, Northcote and Ascot Vale with the price range starting at $652,500 for the first and dropping to a reasonable $320,000.
The places with the best price rises were to be found in the inner suburbs and anything with a water view - always a big selling point. In Brunswick, the price of a two-bedroom apartment has overtaken that paid for a house two years ago. In the outer suburbs price rises are more modest.