Melbourne Unit Prices Surge Nearly 30% Amid Expanded Deposit Scheme

Unit prices in certain Melbourne areas have risen by nearly 30 percent.

This significant increase is attributed to an expanded 5 percent deposit scheme, which has successfully attracted buyers to more affordable properties across the city.

Key Areas See Significant Rises

Over the past year, specific suburbs have experienced the most substantial price surges. Maidstone led the way with an impressive 29.5 percent rise in unit prices.

In Melbourne's south-east, unit prices in Chadstone increased by 29.3 percent, while Notting Hill also saw a notable 24.2 percent rise.

Victorian Capital's Median Unit Price

The median unit price for the Victorian capital reached $601,184 in the December quarter. This figure reflects a 3.8 percent increase over the preceding three months.

These latest statistics were released in the Domain House Price Report for the December quarter.