How your home’s value increased in 2021

Demand for downtown and suburban units showed signs of picking up as soaring prices for freestanding properties exceeded the budgets of many buyers. And the work and study of home requirements has continued to drive demand for properties outside of CBD. through 2022 Australian home values: Homes worth over $9 trillion after $1.77 trillion increase Where to buy in Melbourne in 2022 for first-time home buyers, families and individuals luxury buyers in the three months to December. Regional outposts including Murtoa, Terang and Myrtleford saw some of the best cash increases, with home values ​​in key locations across the country outpacing growth in metropolitan areas. up around $21,000 to $71,000. NED-5303-VIC-house-prices-dec-2021 But dollar gains in Melbourne’s high-growth postcodes have been more dramatic. This was equivalent to a jump in percentage value of between 5.5 and 6.4%. While unit and apartment values ​​in Watsonia, Wallan, Beaconsfield and Southbank have also seen impressive increases, with values ​​there inflating between 6.4 and 9.4 per cent to between around $28,500 and $64,500. . .CoreLogic, head of residential research, Eliza Owen, said the recovery in some unit markets meant a potential “pivot” in demand among off-price buyers of self-contained homes. “Similarly, higher gains were also generally seen in some markets farther from the CBD or in the Victoria region, as relatively affordable housing values ​​and tree-changing and sea-changing lifestyles continue. to concentrate demand outside the city centre,” Ms Owen said. Nelson Alexander auctioneer Paul Harrison says phenomenal growth in some metropolitan areas helped 22 McCracken St, Kensington set a new suburban record when it sold for an undisclosed higher to $3 million in December. climbed around $69,000 over the three months. Llana Maher, Barry Plant’s agent, said Gembrook, another top scorer in Greater Melbourne with a value growth of 5.4% and an incredible $66,362 increase, has proven popular with retirees and families since the onset of Covid-19. “Because we are part of a green corner area, which means you cannot be overdeveloped, the area is not going to lose its beauty and it is really attractive for people people leaving the suburbs,” Ms Maher said. “There are acres of paradise in every direction.” Jarrod McCabe, director of Wakelin Property Advisory, said many of the top performing regional postcodes in the final quarter of last year were tourist or holiday destinations. “Whether it’s people viewing it as a vacation or a permanent tree change, I would say it would probably be a combination of the two,” McCabe said. But he predicted that future house price growth in regional cities and across Melbourne would be more subdued this year, while units in Melbourne may experience further recovery. I don’t think that’s stable over the long term,” McCabe said. “The median price of real estate in Murtoa or St Arnaud won’t be huge. It only takes a few people, maybe even investors in those towns, to really skew the data. “(But) it will be interesting to see if some of the units in some of the metropolitan areas continue.”The more the borders start to open up and with travel resuming…this could bring more confidence in the rental market to justify investor activity.” e weekly real estate update from the Herald Sun. Click here to get the latest Victorian property market news straight to your inbox. MORE: Melbourne suburbs where it’s hardest and easiest to find a rental Farmers next to future Western United house land collect over $200 million in TarneitWollert raises barrebecca.dinuzzo@news.com.auGEMBROOK HAS EVERYTHING DEAN Allcott is proud to call Gembrook home. He has spent the past 40 years living and raising a family in the leafy green postcode in the foothills of the Dandenong Ranges. and bike trails, schools and childcare options, it also offers horse riding, fantastic restaurants and is only an hour’s drive from the CBD. .It has proven to be a good investment over the years, with a reserve of tenants ready to rent the keys.He said he plans to use the proceeds to help establish a sports center for all abilities called Eli te Indoor Sportz in nearby Pakenham which would add to the fantastic sporting options that already exist in the area. “People were able to take a drive (here during Covid) and you can’t help but fall in love with this place,” Mr Allcott said Regional Victoria (home values)Suburb Dec qtr. Change 2021 $ Changemurtoa 15.1% 21,489 Terang 15% 41,488myrtleford 14.7% €70,90.00 73,377 Golden Beach 13.7% €43,700 €59,700Dinner €6,700 €99,730 Mount Beauty 12.6% $59,807mallacoota 12.6% $48,760 $48,761 $48,761 48,761 Regional Victoria (unit values) Suburb Dec qtr. Change 2021 $ Changstrathdale 10.9% 38% $ Entry 10.8% $ 31,742 Leopold 10.2% € 491 golden Square 9.2% $ 33.19 Norlane 9.2% 20 $ 35 357 Swan Hill 9% 8.9% € 25 230 West Wodonga 8.1% €24,647Wodonga 8% €24,510Metropolitan Melbourne (house values) Suburb Dec qtr. change 2021 $ changeDromana 6.4% $66,195 Lit point 5.7% $55,140Somers $5.5% $84,579 Gembrook 5.4% $66,362 Kensington 5.4% $69,262Safety Beach 5.4% $67,036Bunyip 5.4% $43,457Tootgarook 5.2% $55,136 Tullamarine 5.2% $38,163Junction Village 5.2% $38,710 Melbourne Metropolitan (unit values) Suburb Dec qtr. Change 2021 $ Changewatsonia 9.4% 64% 413Wallan 7% 2864Beacsfield 7% 35.052Southbank 6.4% 33.902east Melbourne 6.4% $470Lalor 6.1% $29 280MERBBOTSFORD 6% $35 35.148 FITZROY NORD 5.8% $ 43.11BERWICK 5.8% $340 34,863SSOURCE: Corelogic

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