Top Victorian suburbs revealed
Buying a property is the largest financial commitment that most people will make during their lifetimes, so it is expected that a number of considerations will shape the final decision.
Location is one of the most important factors that homebuyers will keep in mind, with different postcodes commanding higher prices and better value for money.
With the property market constantly shifting, prospective buyers should keep an ear to the ground for emerging real estate hot spots.
Recent figures from realestate.com.au have revealed the top postcodes in Victoria, with several new postcodes ranking as the most popular area to be selling a house, News Limited reported on October 6.
Prospective buyers are being drawn to Mont Albert in Melbourne's eastern suburbs more than anywhere else, with Clifton and Park Orchards coming in at second and third respectively.
Reconfirming Mont Albert's interest among homebuyers, figures from RP Data showed the suburb has an average price of $1.276 million - an increase of two per cent in just 12 months.
Belgrave, Surrey Hills, Heidelberg and Blackburn South also appeared on the top selling market list.
Realestate.com.au website chief product officer Henry Ruiz said increased demand for certain suburbs is an indication of future market trends.
"Homeowners living in these highly sought after suburbs can expect strong interest in their homes if they consider selling in the next few months," Mr Ruiz said.