Inner Melbourne average Q1 2017: $8,882/m2
Inner Melbourne average Q1 2016: $8,622/m2
Percent annual growth: 3.02%
On average, apartments increased in price by $260 per square metre, or 3% over the past year.
One bedroom apartments have remained about the same in nominal terms (which means they have fallen in value in real terms) and are now the cheapest apartments at $8,650 per square metre. All other apartments increased in price, with 4 bedroom apartments now averaging $11,450 per square metre. Not many of these properties get sold each quarter, so prices tend to fluctuate a bit. Similarly, three bedroom apartments increased in average price by about $1,000 to $9,400 per square metre in the first three months of 2017. Two bedroom apartments are also up slightly ($8,900/m2), while studios were more expensive than 1 and 2 bedroom apartments over the past three months ($9,200/m2). Read the full post