House prices in Victoria have soared by ten per cent in the last 12 months, new figures have shown, which could interest those looking to invest in Australian property.
Statistics published by the Real Estate Institute of Victoria have shown median house prices reached $305,000 (£187,000), the Herald Sun has reported.
Robert Larocca, the organisation's communications manager, has highlighted the Macedon Ranges and Surf Coast areas as some of the region's best performers.
Median house prices in Woodend have leapt from $150,000 to $550,000, with Castlemaine properties experiencing a hike of 24.5 per cent, which makes these areas more attractive to those looking to invest in Australian properties.
The newspaper describes Victoria as having a "bumper year for vendors", with the coastal regions being the biggest beneficiaries.
Earlier this week, Seeking Media claimed that tourists are being increasingly drawn to the Gold Coast region, which could present investors with lucrative opportunities.
