1367.2 - State and Regional Indicators, Victoria, Jun 2003  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 16/09/2003   
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September 16, 2003
Embargoed: 11:30 AM (AEST)
Melbourne housing trends: a detailed look

Between 1999 and 2002, the local government areas of Casey and Melbourne had the highest dwelling approvals with more than 13,700 approvals each, according to figures released today by the Australian Bureau of Statistics. This reflected growth on the urban fringe and a strong market for inner-city apartments.

In the four years from 1999 to 2002, medium density housing represented 26% of the nearly 139,000 dwellings approved in the greater Melbourne region.

Median house prices in greater Melbourne were 59% higher in 2002 than in 1999, while prices for units and apartments grew by 41%. House prices grew fastest in the Mornington Peninsula Shire (76%), while the City of Maribyrnong saw the fastest growth in unit and apartment prices (91%).

Construction figures for June 2003, revealed the trend number of Victorian dwelling approvals was up 3.4% from the previous month. This monthly growth was greater than the Australian equivalent of 0.7%.

In the March quarter 2003, Melbourne home buyers paid 1.9% more for established homes and 2.2% more for project homes than those who purchased in the previous quarter.

Other Interesting Victorian Facts:

In 2001-02, 81% of people living outside Melbourne and supplied by a regional water authority received water that met Victoria's quality standards (compared to 59% in 2000–01). All residents in areas supplied by Portland Coast and Western Water Authorities received water that met quality standards.

Residents of Delatite Shire recycled the greatest proportion of waste in Victoria (44.6%) and residents of Mount Alexander Shire the least (6.1%) in 2001-02.

Between 1998 and 2002, Melbourne's outer South East (the City of Casey and the Shire of Cardinia) experienced the largest increase (38.9%) in the number of students completing the Victorian Certificate of Education (VCE) for the first time.

Further details including information on labour force, prices, finance and natural resources are in State and Regional Indicators, Victoria, June Quarter 2003 (cat. no. 1367.2).