MILDURA home prices have increased more than the regional Victorian average, according to the Real Estate Institute of Victoria’s latest data.
In Mildura quarterly house prices rose 1.8 per cent from $428,000 to $435,000, while unit prices fell slightly from $321,000 to $320,000.
Swan Hill experienced a 2.5 per cent rise with the median house price jumping from $483,000 to $495,000.
Across regional Victoria, quarterly house prices rose just 0.6 per cent to $604,500 while unit medians declined 2.6 per cent, to $411,500 from $422,500.
The opposite was seen in metropolitan areas where houses recorded a 1.1 per cent drop to $937,500 and units climbed 3.2 per cent to $630,500.
Despite an increase in median house prices the average Mildura renter can expect to pay $400 a week for a house compared to the regional Victorian average of $440.
For a unit, renters will pay $310, $50 cheaper than the regional state average.
REIV president Andrew Meehan said despite macro-economic and policy pressures, stability had prevailed across Victoria’s property market with attractive selling and buying windows opening for participants in both metropolitan and regional areas.
“In another quarter of interest rate rises, it’s encouraging to see such stability across Victoria’s property market,” he said.
“We expect to see this stability continue into the second half of the year.”
