Glen Waverley leads the largest increase in median house prices in last four years
Glen Waverley has been ranked by Investar recently as the best four year average annual median growth suburb in the country for houses.
The suburb 19 kilometres south-east of Melbourne has had a four year annual increase of 19 percent for its houses.
The median price for these houses is $1.85 million
Property Observer searched for recent residential sales highlighting properties that showed strong growth with resales in the past four years.
Much of the growth has come from new builds. The property at 30 Tobias Avenue in Glen Waverley (below) sold for $2.215 million last month, having last traded for $1.141 million in 2014, showing a price growth of over 43 percent. It looked like this when last sold.
An old building however at 43 Whites Lane fetched $826,000 (below) when sold last month, having last traded for $690,000 in 2014, showing a price growth of 9.33 percent.
Before selling for $690,00 in 2014, it traded two years earlier for $425,000, showing another strong price growth of 26.6 percent.
Two similar townhouse properties at 18A and 18B Coomleigh Avenue have shown strong price growth.
The property (below) at 18A sold for $799,000 in 2014, and 18B went for $996,000 a year later, an appreciation of 20 percent.
Investar's top five performing suburbs for houses with the best four year average annual median growth.
Rank - Suburb - State - Dwelling - the Median Price Median Price Growth 1 yr - the Median Price 4 Yr Average - median rent Rental Yield
1. GLEN WAVERLEY - VIC - Five bedroom house - $1.85 million - 7.55% - 19.08% - $580
2. SAN SOUCI - NSW - Four bedroom house - $1.695 million - 10.23% - 18.21% - $420
3. PORT DOUGLAS - QLD - Two bedroom house - $545,000 - 27.69% - 17.19% - $480
4. HEBERSHAM - NSW - Four bedroom house - $550,000 - 14.58% - 16.85% - $435
5. DUNDAS VALLEY - NSW - Three bedroom house - $1.094 million - 36.25% - 17.08% - $520
