House prices rocket

VICTORIA’S peak real estate body says the price of an average sale price in Bright has risen by 31 per cent in the past five years.

The Real Estate Institute of Victoria recently released their figures for the period from September 2010 to September 2015 revealing an increase from $325,000 to $387,500.

The figures show the median price of house sales in Bright had touched almost $400,000 at the end of last summer.

Anecdotally some real estate agents offered examples of particular properties that have more than trebled in price in the past 10 years.

Dickens Real Estate principal Gerard Gray agreed that there has been significant growth in the past five years culminating in the agency’s busiest year in more than a decade.

“The market has definitely gone up, last year was our busiest year since 2002, we sold 25 per cent more properties then we did the year before and the year before was a good year,” he said.

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