Roxburgh Park has been named one of Melbourne’s top growth suburbs, after house prices rose by close to 10 per cent in just three months.
Latest data from the Real Estate Institute of Victoria (REIV) reveals the median house price in the suburb rose from $387,400 in March to $425,000 in June.
Other top-growth suburbs listed by REIV were Hillside, Camberwell, Richmond and Toorak.
Across the north, significant price rises were also recorded at Greenvale, South Morang and Wollert.
Median house prices at Wollert and South Morang rose by nine per cent in the past three months, to $472,450 and $503,000 respectively.
In Greenvale, the median price increased by 8.3 per cent to $650,000.
Overall, Hume’s median house prices rose by five per cent to $438,000, while median prices in Whittlesea went up 4.4 per cent to $485,250.
Ray White Craigieburn director Andrew Bellino said Roxburgh Park and Greenvale had grown in popularity in the past 12 months.
He said both suburbs were popular with first home buyers, as well as families looking to upgrade, while Roxburgh Park attracts significant interest from interstate investors.
Mr Bellino said the proximity of Roxburgh Park to Craigieburn, and its access to shopping centres and train stations, had driven the price hikes.
“Aitken Boulevard has recently opened up and made it easy to access,” he said.
REIV chief executive Geoff White said the latest figures indicate strength in the market.
He said it is a good time for vendors to list their homes.
“While fewer sellers are putting their homes on the market, prices are still extremely solid,” he said.
“The message to vendors is that the market is still bubbling along nicely – now is a great time to sell.”
