Top 10 Victoria suburbs October 2015

Median house prices in Ripponlea grew 23.1 per cent over the quarter, according to figures from CoreLogic RP Data – placing it in third place for house price growth. Ripponlea is a small suburb close to the St Kilda precinct. It has good public transport access with a train station located within the suburb boundaries. There are a number of amenities in Ripponlea, with retail outlets and services, with the beach a short distance away.

About 12 kilometres east of Ripponlea is Huntingdale – a Melbourne suburb where median unit prices grew 24 per cent over the quarter. A highly residential suburb, Huntingdale attracts investors and tenants alike, thanks to the convenience of its own railway station.

Located just over 20 kilometres from Melbourne CBD, Blackburn North saw a unit price growth of 16.2 per cent. The suburb offers three primary schools, attracting families as long-term tenants, as well as a number of sporting centres and fields.

The last of the four Melbourne suburbs in Victoria’s top 10 is Point Cook, situated 25 kilometres south-west from the city centre with a population of more than 30,000. Median unit prices in the suburb grew 15.6 per cent over the quarter. The suburb has no shortage of schools or major retailers, and is positioned on the coast line alongside a coastal park and lake. Currently under development, Wyndham Harbour Marina offers two main residential developments – Lighthouse Apartments and Marina Quays Apartments, both of which have a select number of apartments still for sale.

The comparatively smaller suburb Eagle Point is positioned on the Gippsland lakes. With 26 per cent median house price growth over the September quarter, the suburb topped the list for top 10 Victorian suburbs. Eagle Point features a recently redeveloped primary school, attracting families to the suburb. It is, however, also well known for its tourism, with the reserve being the main attraction.

Median unit prices in Ballarat Central and North Bendigo each grew by more than 16 per cent over the quarter. Both are suburbs of their own main cities – Ballarat and Bendigo, appealing to tenants seeking the conveniences of being located near city amenities.

Agricultural communities Charlton and Sea Lake joined the top 10 for price growth over the September quarter, growing 19.8 and 23.3 per cent for houses respectively.

Victoria’s Tawonga South is a scenic, hilly suburb 350 kilometres from Melbourne. With limited residential streets, median house prices in the suburb grew by 21.7 per cent to secure a place in the state’s top 10.

Top 5 Victoria quarterly growth suburbs (houses)

Eagle Point ($310,000): 26%
Sea Lake ($92,500): 23.3%
Ripponlea ($1,4000,000): 23.1%
Tawonga South ($245,000): 21.7%
Charlton ($145,500): 19.8%
Source: CoreLogic RP Data, based on median price growth

Top 5 Victoria quarterly growth suburbs (units)

Huntingdale ($465,000): 24%
North Bendigo ($262,000): 16.4%
Blackburn North ($680,000): 16.2%
Ballarat Central ($246,250): 16.2%
Point Cook ($362,500): 15.6%
Source: CoreLogic RP Data, based on median price growth