Prices Soar in Williamstown
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
