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Wednesday, 08 October 2008
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Cost of Melbourne housing increases

26/07/2008 7:05:00 PM.  | 
Melbourne's median house price has increased by 4.9 per cent in the June quarter, new figures show.

The Real Estate Institute of Victoria (REIV) figures reveal that the median price of a detached home in Melbourne has increased from $430,000 to $451,000.

"The moderate increase in the median price this quarter confirms that the Melbourne housing market is stable," REIV CEO Enzo Raimondo said.

Mr Raimondo said some volatility remained in the market with a reduction in housing transactions compared to the same time last year.

Australian Associated Press

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