Article came from the Werribee Banner last Wednesday (4/2/04)
Want an affordable home? Go West!
Homes in the West have remained the most affordable in Melbourne in spite of strong gains in the December 2003 quarter.
According to statistics from the Real Estate Institute of Victoria, Altona Meadows was the western region’s best performer in 2003 – rising 27.6 per cent in value.
The median price for a home in the suburb soared by nearly $60,000 – from $212,000 in December 2002 to $270,000 last month
The western suburbs were also among the strongest performers of the quarter.
Newport rose by just over 11% to $422,000, Taylors Lakes by 10% to hit $370,000 and Werribee by 9.6% to reach $205,000.
Despite the rise, Werribee remains the most affordable suburb in Melbourne, followed by Deer Park at $211,750. Hoppers Crossing, St Albans, Sunshine West and Sunshine North rounded aout the top 10.
Williamstown continues to be the West’s premier address with a median house price of $575,000, while Sanctuary Lakes was a close second on $560,000.
The inner-western suburbs were the biggest losers in the December quarter, with the median prices for homes in Seddon droopping by just over 12% and by 13.6% in Maribyrnong.
Kingsville, Braybrook, Footscray and Yarraville also suffered losses.
For what its worth!
Cheers!
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