House prices rebound across Knox

Date: 17 September 2013

Median house prices have risen in most Knox suburbs, turning around last year’s sluggish results.

New RP Data figures show all but two suburbs recorded median house price growth of at least 2 per cent last financial year.
In the previous financial year, every suburb posted a price fall of at least 2 per cent.

Standout suburbs include Upper Ferntree Gully, where prices jumped 7.6 per cent, and Scoresby, which saw a 6.3 per cent rise in the median house price.

Both suburbs dropped in 2011-12 by 6.9 per cent and 7.9 per cent respectively.

However, both suburbs recorded fewer than 75 sales per year.

With a much larger pool of sales, Boronia showed one of the best turnarounds in the area.

An average 266 houses were sold in Boronia each financial year.

While prices dropped 7 per cent in 2011-12, they bounced back with 2.8 per cent growth in 2012-13.

First National Rowville general manager Sandra Haupt said her office took an average 19 days to sell properties.

“Everything is selling really quickly and getting good prices too,” she said.

The two suburbs to record a drop in 2012-13 were Knoxfield, where prices dipped 2.1 per cent, and Wantirna, with a 0.8 per cent fall.

First National Real Estate Rowville

Source: Knox Leader 17 Sep, 2013
Back to articles Filed under: Media / VIC News Tags: first national real estate rowville, knox, property market, rowville, sandra haupt
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