Wollert prices continue to rise

Tara Murray

House prices in Wollert bucked a statewide trend by increasing in the June quarter, according to new Real Estate Institute of Victoria data (REIV).

While median house prices across metro Melbourne fell by 3.5 per cent in the three months to June as a result of the COVID-19 pandemic, Wollert was among the suburbs to record an increase in median prices.

REIV data shows Wollert recorded the 11th highest growth in median house prices during the quarter for suburbs with at least 30 house sales.

House prices in the suburb increased by 1.2 per cent, with the median house price now $552,000.

Kalkallo, which had less than 30 house sales between April and June, was the only other suburb in Hume and Whittlesea to have an increase, rising by 5.4 per cent to $585,000.

LJ Hooker Epping principal Mike Assaad said he wasn’t surprised to see house prices in Wollert increase.

“Wollert has always held strong,” he said.

“There’s plenty of new homes and a lot of land, so there’s a lot of opportunities to build your own home and build the house you want.

“There are new estates out there, so I would say it isn’t a surprise. There’s still a lot of competition and some good prices.”

Other suburbs across Hume and Whittlesea didn’t fare so well.

Roxburgh Park’s median price dropped by 6.1 per cent to $540,000, while Craigieburn was down 3.2 per cent to $553,000 and Mickleham’s median price was down by 1.4 per cent to $543,000. Greenvale’s median house price remained steady at $728,000.

Several suburbs, including Broadmeadows and Meadow Heights had no quarterly figures.

In the Whittlesea municipality, Whittlesea had the largest drop, with the median price falling 10.5 per cent to $595,000, while Thomastown was down 9.8 per cent to $577,000.

Lalor’s median house price fell 7.3 per cent to $580,000, Doreen was down 4.3 per cent to $600,000, South Morang was down 4.1 per cent to $633,000, Mernda’s median prie fell 3.4 per cent to $560,000 and Epping’s median price fell 2.8 per cent to $600,000.

Mill Park recorded the lowest decrease in the municipality, down by 0.1 per cent to $685,000.