High house value growth recorded in Clifton Hill

July 24, 2018 by  

Recent statistics show that house prices within Clifton Hill have grown considerably over the last decade.

The median house price in Clifton Hill has nudged up by almost 140% during the period in question. The rise in median house prices in the suburb of Clifton Hill was not matched by a similar performance in the unit market.

The CoreLogic data measured property value performance between May 2008 and May 2018. It shows that the market has not followed obvious and consistent trends since the international recession. There has been considerable variation in economic activity between suburbs in the same city.

Cameron Kusher, the research head at CoreLogic, noted the scattering of the most dynamic suburbs around the city region. He said:

“If anything, this highlights how value growth has not been focused on any one particular segment of the housing market.”

In 2008, the median house value within Clifton Hill was just over $625,000. A decade later, the median house value in the city-fringe suburb had increased to more than $1,500,000.

Despite the impressive performance of some of Melbourne’s outer suburbs, the inner district of Ashburton fared better over the time period under discussion. It recorded an improvement in median house value of almost 154%.

Print shops can be of use for firms involved in the property market, who look to respond to pricing trends.

Comments