‘Star performer’ in sales – 332 Portland homes sold in 2018
A HOME is selling in Portland on average nearly once every day as the city bucks a statewide trend.
Statistics provided to the Observer by the Real Estate Institute of Victoria show it was notified of 332 homes sold in Portland last year, an increase of 34, or about 11 per cent, on 2017.
That number – made up of 328 private sales and four auctions – is double the number in 2015.
It is also in sharp contrast to statewide figures that saw 20 per cent fewer sales reported to REIV in 2018, continuing a downward trend during the past five years, and follows the boom in Portland sales in 2017, which were 72 per cent higher than the previous year.
There were also 33 reported sales in Heywood in 2018, down two on the previous year, but in line with the longer-term average.
While sales in Portland were up, the median price fell by $21,000, or about 8.5 per cent, to $226,500, the lowest figure since 2014.