Home buyers in some parts of regional Victoria will have to find as much as $421,000 extra to buy a home after house prices surged to record highs in 2021 propertymarket houseprices
Home buyers in some parts of regional Victoria will have to find as much as $421,000 extra to buy a home after house prices surged to record highs in 2021.
That was closely followed by the sought-after Surf Coast, close to Geelong, where the median price rose 43 per cent for the year from $979,000 to $1.4 million – a rise of $421,000. “People are not travelling internationally any more, so there’s really a new type of buyer that’s entered the market,” Dr Powell said.“Those that may have not wanted to buy a holiday home are changing their mind, as they can’t see themselves travelling overseas for some time.
On the Surf Coast, sea-changers have continued to move to popular suburbs such as Torquay and Jan Juc. House price rises in Melbourne, where the median hit a record $1,101,617 in December, on Domain data, would also have an impact on people’s property decisions.