Median house prices across the Macedon Ranges have soared to over a million in some suburbs in the third quarter of this year.
Real Estate Institute of Victoria (REIV) he quarterly median housing prices for July to September have revealed a sharp price increases for Mount Macedon and Riddells Creek.
Mount Macedon recorded a median house price of $1.4 million, with a massive increase of 24.4 per cent, while Riddells Creek’s median house prices jumped to $1.1 million, with a 10.2 per cent increase.
Malmsbury also saw a big increase in its median house prices which rose to $790,000, an increase of 8.2 per cent.
Across the Ranges, three suburbs rose on average by 1 per cent, including Gisborne, which recorded a median price of $1 million, Lancefield where the median price is $728,000 and Romsey ($811,000).
In Macedon, the median house price fell by 11 per cent to $975,000.
Kyneton and Woodend also recorded slight decreases, down to $820,000 and $935,000 respectively.
The data comes as Macedon Ranges council is looking to refresh its Affordable Housing Policy.
Council is seeking to develop a long-term strategy to help address growing housing affordability challenges across the shire.
This would include housing that’s suitable for very low, low or moderate-income households, where housing costs take up no more than 30 per cent of household income.
Council said the review would help it understand local housing needs and priorities, explore ways it can better support affordable housing, and identify opportunities for partnerships and advocacy.
Feedback on council’s policy is currently open, with the community asked to share their experiences, ideas and views to help shape the new policy.
Through the feedback, council will be able to advocate for funding and policy reform, plan for housing through the local planning scheme which would include policies that support affordable housing contributions in developments, and facilitate and partner with housing providers and developers, including making council land available for social housing.
Feedback is open now until Wednesday 5 November.
Details: https://yoursay.mrsc.vic.gov.au/affordable-housing
