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Melbourne property prices recovered from a fall in the March quarter to register moderate growth over the June quarter.
The median detached house price rose by 4.9 per cent to $451,000, Real Estate Institute of Victoria (REIV) data showed on the weekend.
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Enzo Raimondo, REIV’s CEO, said the moderate growth confirmed that the Melbourne housing market was stable and offered solid prospects for interested buyers.
There is no doubt “the market is calmer and more sustainable than it was this time last year, providing more opportunities for buyers,” Mr Raimondo said.
Published: 29-07-08
