Median house prices in Mernda have topped $600,000 for the first time, with the suburb becoming Whittlesea’s strongest performing housing market in the past three months.
Data from the Real Estate Institute of Victoria reveals that in the three months to June 30, the median house price in Mernda rose 4.1 per cent from $592,000 to $617,000.
Mernda was one of just four Whittlesea suburbs to record median price rises during the June quarter.
They also rose in Whittlesea, Doreen and Wollert. The majority of Whittlesea suburbs recorded drops of up to
3.9 per cent. Mill Park remained the municipality’s most expensive suburb with a median price of $663,000.
Across Melbourne, the median metropolitan house price fell 0.6 per cent.
Barry Plant Doreen sales consultant Phillip Di Battista said house prices in Mernda had been steadily rising in the past 18 months, driven by the Mernda Rail Extension. He said the $600 million extension, which is tipped to open at the end of next month, had made Mernda and Doreen more popular.
“The train is bringing in big numbers of investors and buyers,” he said. “It has changed the market for the better.
“Mernda and Doreen are experiencing growth as they are both going to benefit from the train. I expect prices will be steady for the next 12 months.”
Mickleham was Hume’s top-performing suburb in the June quarter, with the median price raising 3.7 per cent from $530,000 to $550,000.
Other Hume suburbs to record rises were Broadmeadows, where median prices rose 1.68 per cent to $605,000 and Craigieburn, where median prices rose 0.7 per cent to $567,000.
Prices fell in Roxburgh Park, Greenvale, Westmeadows, Gladstone Park, Dallas and Meadow Heights.
