Australian Property Updates

Property Information & Real Estate Updates

Melbourne Top 5 Suburbs

Top five streets for sales during 2009

  • St Kilda Rd, Melbourne:197 sales
  • Nepean Hwy, Frankston: 102 sales
  • City Rd, Southbank: 97 sales
  • Kavanagh St, Southbank: 73 sales
  • Queens Rd, Melbourne: 70 sales

Top five Melbourne suburbs

  • Reservoir: 1229 sales
  • Richmond: 1102 sales
  • Frankston: 977 sales
  • Melbourne: 963 sales
  • St Kilda: 896 sales

Five suburbs with highest number of auction sales

  • Richmond: 432 auction sales
  • Reservoir: 385 auction sales
  • St Kilda: 301 auction sales
  • Glen Iris: 293 auction sales
  • South Yarra: 271 auction sales

Five suburbs with highest increase in median price (all dwellings) 2009 compared to 2008

  • East Melbourne: 41 per cent increase in median
  • Eaglemont: 29 per cent increase in median
  • Dallas: 27 per cent increase in median
  • Toorak: 21 per cent increase in median
  • Footscray: 20 per cent increase in median

Undersupply of residential dwellings in Australia in general and in Melbourne specifically, ensures that pressure remains on Melbourne residential property prices.  Like any real estate investment, locating and purchasing the right property in the right suburb requires careful consideration and research. Buyers should look for suburbs that have strong positive attributes.  Properties located in proximity to good public transport, good schools, shops, and close to arterials tend to perform better over time.