Barwon Heads has retained its title as Victoria’s most expensive town for housing, according to latest real estate data.
The town’s media price in the March quarter climbed to $908,750, said Real Estate Institute of Victoria (REIV).
Barwon Heads outstripped the Melbourne median of $826,000 and was more than double the overall figure for regional Victoria, $377,000.
Torquay also had “high house prices” with a median of $707,500, the REIV said.
“This is almost $80,000 higher than the median house price in Melbourne’s outer suburbs.
“Meanwhile, Geelong’s median house price broke the $700,000 barrier for the first time in the March quarter with a median of $701,000.
“This was followed closely by Newtown which recorded a median house price of $699,000 in the first three months of the year.”
Local towns and suburbs also with prices “well-above” the statewide median included Point Lonsdale, on $657,500, Geelong West, $585,000, and Highton, $583,500.
The REIV expected further price growth in region Victoria.
“Significant infrastructure commitments announced by the State Government (in last week’s state budget) will undoubtedly continue to improve the attractiveness of regional Victoria, driving price growth in areas further from the city,” the REIV said.
