28 April 2016
Below is an excerpt only. To view the original article please click here (paywall)
It might be known for its relative property market affordability, but buying a new apartment in Melbourne’s inner west got a whole lot more expensive late last year.
New apartment prices in the inner west gained more than $50,000 in the final three months of 2015 as the rest of the inner market fell slightly.
The Urbis Melbourne Apartment Essentials Q4 2015 report found the weighted average price of off-the-plan apartments in inner Melbourne fell $6,693 to $699,705 during the December 2015 quarter.
The inner west bucked the tend, with its average price rising $54,350 over the quarter to $570,000.