![](\"https:\/\/fmsto.blob.core.windows.net\/cms\/images\/055\/0004_637859418486245632.jpg\")
<\/p>\n
Victoria\u2019s coastal suburbs and regional towns fuelled the state\u2019s price growth over the first quarter of the year.<\/p>\n
According to the Real Estate Institute of Victoria (REIV), house and unit prices across regional markets increased by 3.9% and 1.9% over the quarter.<\/p>\n
On the other hand, house and unit prices in Metropolitan Melbourne posted respective declines of 0.3% and 0.9% during the same period.<\/p>\n
Regional Victoria also posted stronger gains on an annual basis at 26.7% for houses and 16.5% for units.<\/p>\n
Over the year, the top three suburbs that recorded the highest growth in house prices are in the local government area of Mornington<\/a> Peninsula: Rye, Mount Martha, and Rosebud.<\/p>\n Rye performed the best with a 48% increase in median house price to $1.2m. This was followed by the 34% increase to $1.9m in Mount Martha and the 32% gain to $851,121 in Rosebud.<\/p>\n REIV President Adam Docking said these suburbs were able to help maintain the five-year streak of regional Victoria in terms of price growth.<\/p>\n \u201cThe Victorian residential market has recorded strong growth for over two years and as supply catches up with demand, we can expect to see a steadier period,\u201d he said.<\/p>\n \u201cThe data reflects the theme of ongoing migration to the regions, as we see more Melburnians seeking out a scenery change in coastal towns and regional cities.<\/p>\n The REIV data showed that there appears to be a stabilisation in Metropolitan Melbourne prices. However, prices remained affordable, particularly for units.<\/p>\n For instance, units in inner-city suburbs such as Docklands ($555,000) and Melbourne CBD ($580,000) ranked in the top 20 quarterly growth suburbs while recording median prices under the $600,000 mark.<\/p>\n Meanwhile, house prices in Werribee<\/a> and Sunbury<\/a> remained relatively affordable despite the respective growths of 18.7% to $620,000 and 16.8% to $652,500.<\/p>\n \u201cAs expected, the report shows the metropolitan housing market is stabilising but the fundamentals remain strong,\u201d Mr Docking said.<\/p>\n \u2014<\/p>\n Photo by @paul-macallan on Unsplash<\/p>\n<\/p><\/div>\n
Do you need help finding the right loan for your investment?<\/strong><\/p>\n When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.<\/p>\n Just fill in a few details below and we’ll then arrange for a local mortgage broker\u00a0to contact you and work out what features or types of loans are right for your needs. We’ll even help with the paperwork. Plus an\u00a0appointment is free.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n <\/p>\n
\n Top Suburbs :
\n
\n
\n whyalla<\/a>
\n
\n ,
\n
\n emerald <\/a>
\n
\n ,
\n
\n tuart hill<\/a>
\n
\n ,
\n
\n alexandria<\/a>
\n
\n ,
\n
\n trott park<\/a>
\n
\n<\/p>\n<\/p><\/div>\n
\n Get help with your investment property<\/h3>\n
\n our privacy policy here<\/a><\/div>\n<\/div>\n