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Connecting people & communities PAKENHAM OFFICER Thursday, 27 April, 2017

A Star News Group publication

Incorporating South-East Star Real Estate Phone: 5945 0666


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SPORT Thursday, 27

April, 2017 Page


Propertyy Lift out


Salute to their service On a wet autumn morning, community leaders, residents and war veterans stood in silence. As the Last Post rang out all that could be heard was the bugler and the sound of rain falling on the pavement. For the 102nd time and on the anniversary of the landing at Gallipoli, Pakenham residents had gathered to pay tribute to Australia and New Zealand’s servicemen and women- many who never made it home. For more on Pakenham’s Anzac commemorative ceremony and other services held in the area, turn to page 2. A member of the catafalque party at Pakenham’s dawn service. For more Anzac coverage, see page 2. 167589 Picture: ROB CAREW

Paky’s a bargain first home buyers and families, offering the ideal combination of space and affordability,” Mr Walton said. The dream of owning a home is getting more difficult in Melbourne, where the median house price has hit a record high of $826,000. Melbourne’s median house price has recorded its strongest quarterly price growth since 2013, smashing the

$800,000 barrier for the first time. Melbourne’s city-wide median price increased 7.6 per cent in the first three months of this year, up by $55,000 since the last figures were released in December. Strong buyer demand, solid population growth, low property stocks and record low interest rates have contributed to the figures.

Outer suburbs dominated the list of top growth areas, with increases of more than 14.5 per cent in Mount Eliza, Cranbourne North, and Mornington, in the south-east, and Kilsyth in the outer east. Melton West, Wyndham Vale, Werribee and Sunbury were the other affordable suburbs across Melbourne according to the REIV data.

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New figures released by the Real Estate Institute of Victoria show that Pakenham is still one of the state’s most affordable suburbs. REIV President Joseph Walton said Pakenham had experienced solid price growth in the March quarter, with buyers increasingly looking for value for money in the city’s outer suburbs.

Pakenham’s median house price increased 9.8 per cent in the March quarter to $450,000. The median unit/apartment price increased 3.7 per cent in the first three months of 2017 to $335,000. Despite the increases, Pakenham came in as the fifth most affordable suburb in Victoria. “Pakenham remains attractive to


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News - Pakenham Officer - 27th April 2017  
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