• January 29, 2014

Prices Soar in Williamstown

The historic Mebourne waterfront suburb of Williamstown has recently recorded a median price of $1 million. REIV CEO Enzo Raimondo said that the increase was driven by several factors. “Low interest rates, a record number of auctions, and an increase in million dollar-plus sales all led to an impressive quarter for the market,” he said.

He said buyers were “out in force”, leading to a healthy average clearance rate of 70 per cent for the quarter.

“Sellers were also confident of making a sale with about 12,800 auctions held during these three months, an average of more than a thousand auctions a week,” Mr Raimondo said.

What are some of the median prices in the Inner West?

Newport: $741,750

Seddon: $733,500

Spotswood: $700,000

Yarraville: $705,000

Altona: $605,000

Altona North: $547,500

To find out how much your suburb is worth go to www.reiv.com.au/Property-Research/Median-Prices

The REIV has tracked Williamstown’s strong growth. Source: Real Estate Institute of Victoria

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