House price jump

25% increase in past 12 months for Alpine townhouses, units

PRICE BOOM: Gerard Gray said with so few available properties in Bright house prices have risen significantly. PHOTO: Justin Jenvey

BRIGHT has seen the average townhouse and unit price skyrocket in the past 12 months.

New data from the Real Estate Institute of Victoria shows many regional towns experienced significant price growth for the year ending June 30.

The state-wide median townhouse and unit price has increased 4.1 per cent to $296,000 in the past year but in Bright that figure has risen 25 per cent to $340,000.

Dickens Real Estate director Gerard Gray said average prices were trending upwards across all properties, not just small dwellings close to the heart of town.

“The prices have really gone up and are probably set to continue because with the supply base being so low anything attractive that comes on the market people are just jumping on,” he said.

“In close will always be in high demand especially for people wanting holiday homes.

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