Australia is one of the worlds largest and least densely populated countries in the world. Outside of Sydney, the most expensive is Albert Park in Melbourne, which is the 26th-ranked suburb in Australia, and the next is Kent Town in Adelaide, ranked as the 66th most expensive suburb (table 3). With a median house price of $4,788,300, Main Ridge is the most expensive suburb in Melbourne, despite being located 97 kilometres from the CBD. Homes here were typically a minute 528 square metres, with living area a little more generous at 316 square metres. Canberras block sizes are significantly larger than Melbournes, keeping its price per sqm lower. "Most expensive suburbs in Melbourne, Australia in 2013/2014, by price per square meter (in thousand Australian dollars)." Perth and Melbourne have seen some of the largest decreases in block size based on properties sold, falling by 16.2% and 9.2% between 2012 and 2022 respectively. The price to buy a home is about the same as in Camberwell, $2.8 million for a house and $805,999 for a unit. The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. Cities with development lagging behind the. The suburbs where a square metre of land is worth over $25,000 Get the latest real estate news delivered free to your inbox. Living in the suburb has all the perks of living in the city, just with more parks and greenery. You need at least a Starter Account to use this feature. Albert Park topped the list as Melbournes most expensive suburb per square metre, where buyers are paying a hefty $13,915 per square metre of land. Perth's lot size has dropped from a median of 600sqm to 375sqm in the past 15 years. House prices currently stand at $3.7 million, with units just under $1 million at $910,000. A change in methodology to the way townhouse/terrace/etc. As of September this year, the suburb has median house price of $1.6 million. Domain, powered by APM. They are less than half the price per sqm of the neighbouring suburbs Maidstone, Yarraville and Braybrook. 13 houses were sold over the last 12 months, for a median price of $1,880,000, representing a sales turnover of 4.94%. You need at least a Starter Account to use this feature. ). Back to the Mornington Peninsula is Moorooduc, which has a median house price of $3,028,300. In Kinglake West, land costs are the lowest at $260 per square metre, while Heathcote Junction costs $271. Know all the market signals you should keep an eye on. This represents a 2% turnover. Moving even further out from the inner city, block sizes get even larger. You can trust the team at Metropole to provide you with direction, guidance, and results. Located 66 kilometres from the Melbourne CBD, Merricks Beach has a median house price of $2,475,000. Tier 4 (2.5k-5k/sqm): Brighton/East, Elsternwick, Black Rock, Hampton/East, Surrey Hills, Ormond, Ashburton, McKinnon, Camberwell, Canterbury, Balwyn/Nth, Kew/East, Caulfield/Nth, Keep in mind that the median per sqm in Melb is around $800, so if you own in any of these above suburbs you are doing very well. No, Melbourne's most influential land suburb is ( drum roll please) Balwyn; and it has been since 2008 and possibly since the late 1990s. Please create an employee account to be able to mark statistics as favorites. North Melbourne suburbs also provide greater value for money, as Broadmeadows, Gladstone Park and Campbellfield are all less than $1,300. The smaller cities (Canberra, Hobart and Darwin), where population and land pressures arent as significant, have seen little change to block size of properties sold in the last decade less than 1%.
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