REIV Geelong Region June 2013 update

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As a member of the REIV, Prime Real Estate is kept abreast of the latest median house price movements in our region. Read below the latest report for the Geelong region for the month of June and don’t forget Prime Real Etate for all of your residential real estate requirements – sales and rentals.

“The median house price in Greater Geelong recorded a slight increase of 0.6 per cent to $392,500 from May. It is also 1.9 per cent higher than a year ago.

The largest increase in house price this month was in the suburb of Bannockburn, which increased by 5.5 per cent to $382,500. This was followed by Barwon Heads, increasing by 3.4 per cent to $755,000 and Geelong West, increasing by 3.3 per cent to $427,500.

The median house price in the Surf Coast Shire fell slightly by 0.8 per cent to $605,000 but remains 2.5 per cent above a year ago. The largest increase was in Jan Juc which rose 1.9 per cent to $588,750.

Within the Borough of Queenscliffe, the median house price remained stable at $700,000 in June, reflecting a 1.4 per cent increase from a year ago.

Regarding units, prices have remained stable in both the City of Greater Geelong and the Surf Coast Shire at $310,000 and $432,500 respectively in June. The median unit price in the Borough of Queenscliffe, however, fell by 4.1 per cent to $467,500.

The rental vacancy rate in the Geelong and Barwon region fell from 6.7 per cent in May to 5.5 per cent in June in line with a tightening across regional Victoria.”

View the REIV article here.

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