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Jun 18 2016

Australian House Prices 2003 to 2015: Melbourne and Victoria


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Changes in Australian Median House Prices 2003 to 2015 for Melbourne and Victoria

Median Price of Established House Transfers in Melbourne rose in value by about 94% between 2003 and 2015
Median Price of Attached Dwelling Transfers in Melbourne rose in value by about 77% between 2003 and 2015

Median Price of Established House Transfers in the rest of Victoria rose in value by about 67% between 2003 and 2015
Median Price of Attached Dwelling Transfers in the rest of Victoria rose in value by about 53% between 2003 and 2015

Median Price of Established House Transfers in Victoria

Median Price of Established House Transfers
 Melbourne  Rest of Vic.
Dec-2003  $               320,000  $               185,000
Dec-2004  $               321,000  $               205,000
Dec-2005  $               332,000  $               220,000
Dec-2006  $               360,000  $               230,000
Dec-2007  $               410,000  $               245,000
Dec-2008  $               385,000  $               236,000
Dec-2009  $               477,500  $               266,500
Dec-2010  $               520,000  $               292,500
Dec-2011  $               495,000  $               290,500
Dec-2012  $               508,000  $               291,500
Dec-2013  $               561,000  $               308,000
Dec-2014  $               572,500  $               300,000
Dec-2015  $               621,000  $               310,000

Median Price of Attached Dwelling Transfers in Victoria

Median Price of Attached Dwelling Transfers
 Melbourne  Rest of Vic.
Dec-2003  $               285,000  $               170,000
Dec-2004  $               281,000  $               180,000
Dec-2005  $               290,000  $               195,000
Dec-2006  $               315,000  $               192,000
Dec-2007  $               365,000  $               210,000
Dec-2008  $               350,000  $               195,000
Dec-2009  $               421,000  $               232,000
Dec-2010  $               460,000  $               255,000
Dec-2011  $               432,500  $               245,300
Dec-2012  $               440,000  $               240,000
Dec-2013  $               467,000  $               245,000
Dec-2014  $               485,000  $               250,000
Dec-2015  $               505,000  $               261,200

 

Source:

ABS 6416.0 – Residential Property Price Indexes: Eight Capital Cities, Dec 2015

Melbourne property prices are based on the Greater Melbourne area with a population of about 4,529,500 and covering an area of 9,990 km2 (3,857 sq miles).
Population Density of Melbourne is about 1,174 people per sq mile.

Victoria has a population of about 6,000,000 and a land area of 227,420 km² (87,807 sq miles).
Population Density of Victoria is about 68 people per sq mile.

About 75% of the Victoria population live in its Capital City, Melbourne.



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