Original article by Larry Schlesinger
The Australian Financial Review – Page: 40 : 21-Jul-15

Secret Agent has released data which shows that the median price of a one-bedroom apartment in Melbourne was steady at $A380,000 in 2014-15. However, the median price of two-bedroom apartments increased by 4.7 per cent to $A582,000, while the median price of apartments with at least three bedrooms rose by 7.2 per cent to $A950,000. The rising price of larger apartments is said to have been driven by demand from families and Baby Boomers who are downsizing their homes.

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SECRET AGENT PROPERTY SERVICES, THE REAL ESTATE INSTITUTE OF VICTORIA LIMITED