Three-bed homes trump all others

The highest capital growth in the Melbourne market was created by three-bedroom homes in the inner and middle suburbs, new data from the REIV shows.

The Real Estate Institute of Victoria (REIV) analysis separates sales results across Melbourne into two, three and four-bedroom homes and one, two and three-bedroom units.

Of all housing types, three-bedroom houses recorded the strongest capital growth over the three months to June 2014.

This property type recorded increases of 10.7 per cent in Toorak, 10.1 per cent in Thornbury and 9.9 per cent in Springvale.

The best suburbs for four-bedroom homes were Mitcham, where this product grew by six per cent, and Kew, which recorded 5.4 per cent growth.

By contrast, the strongest rises for two-bedroom homes were just 3.6 per cent in Brunswick and 3.4 per cent in Coburg.

In the unit sector, one-bedroom apartments in St Kilda East performed the best, rising by 7.5 per cent.

However, one-bedroom units recorded weak growth elsewhere in the city – the second best performer, Melbourne’s CBD, experienced an increase of just 2.4 per cent.

 

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