THE Wimmera’s house prices increased by an average of 5.8 per cent in 2016, the highest rate in regional Victoria.
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Western Victoria was home to the highest regional housing price growth, according to the latest figures from National Australia Bank and CoreLogic RP Data.
The Wimmera’s real estate capital growth was less than half that of Melbourne, which saw an increase of 13.7 per cent.
Neighboring districts were at least 1.6 percentage points behind, with Mallee on 4.2 per cent , Western District on 3.3 and Central Highlands on 2.3.
PRD Nationwide Horsham principal Wes Davidson said the good grain season might have played a role.
“Rain is good for consumer confidence,” he said.
Mr Davidson said a figure as high as 5.8 per cent seemed out of whack.
“I’d be interested to know their definition of the Wimmera.
“Whether or not it included places like Dimboola, Nhill or Warracknabeal would distort the figure.”
Mr Davidson said his report on Horsham’s house prices showed a 3 per cent increase .
In January 2016, CoreLogic RP Data found that Horsham and Dimboola were among the cheapers places in Victoria to rent, with media payments of $220 per week.
The firm also found the media house price in Horsham was $256,337 for houses and $196,359 for units in mid-2016.
Those figures suggest the media house in Horsham increased by in value by almost $15,000 in 2016.