Median house price at new high

BALLARAT'S median house price is at a new high.

The median house price climbed by almost one per cent in the final quarter of 2013, to a new high of $292, 500. 

Based on Real Estate Institute of Victoria (REIV) data put out today, the upwards trend is also seen on a yearly basis, with the median house price in Ballarat climbing $7,500 since December 2012.

REIV chief executive officer Enzo Raimondo said the trends were setting new records, both here and in Melbourne. 

“The regional market also improved in December quarter with the median house price increasing by 2.6 per cent – the highest since the 2013 March quarter," Mr Raimondo said.

"The regional median house price is now at a new record of $320,500 with the three major centres of Geelong, Ballarat, and Bendigo also showing growth."

Mr Raimondo said the increases were due to numerous factors including low interest rates, a record number of auctions, and an increase in million dollar-plus sales.

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