Yahoo Finance 20 Melbourne suburbs where house prices have soared the most in 5 years
The property boom, which peaked in late 2017, has seen many Melbourne locals priced out of the housing market.
It’s seen the prices of houses in Melbourne’s outer suburbs slowly climb in demand over the past few years as families and first-home buyers are forced to search even further away from the city centre for affordable options.
According to Domain’s latest House Price Report, here are the 20 suburbs where house prices have grown the most in the last five years:
Domain senior research analyst Nicola Powell said the “extraordinary growth” in house prices did not spell good news for first-home buyers.
“It pushes them out to other suburbs that are likely to be farther, or they have to make a compromise on either location or their property type.”
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.
