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There is a spring in the step of the Victorian housing market, as prices come back up.
REIV data shows Melbourne saw a growth of 4.5 per cent in the last quarter, which is the highest since March 2017.
Northern suburbs led the growth, with prices soaring by 25.7 per cent in Preston, followed by Coburg with 20.8 per cent.
The growth in the capital was shared across the region, with unit prices up by 7.1 per cent.
The leading growth was in Bendigo, up by 11.9 per cent in the quarter, and nearly 30 per cent annual growth.
This data brings news sellers have waited for, REIV president Leah Calnan said.
“Enthusiasm is growing as prices surge and properties are being snapped up more quickly; this is the perfect time to get on the market,” she said.
“Warmer spring weather, lower interest rates and easier loaning protocols have resulted in significant growth for Victoria’s real estate sector.”
Although the latest report is positive, Ms Calnan believes the market is not out of the woods yet.
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