REIV House & Unit Price Indices Increase In March

Increases were recorded in many of the main indicators for the Victorian property market in March.

Importantly, the Melbourne House Price Index (HPI) increased by 0.9 per cent the Unit Price Index (UPI) by 1.1 per cent over the month. This represents the sixth month in a row in which the HPI has increased and provides another clear indication of an improving residential market.

Comparing this cycle with the last one can reveal a lot about this market and why it’s going to be different.Understanding the range of factors underlying the market helps show what may happen in the future and should be critical knowledge for property professionals and investors.

Source: REIV