THE median house price in Bacchus Marsh has dropped more than 10per cent in the past year, new data from the Real Estate Institute of Victoria (REIV) reveals.
The median house price for June was $320,000, a drop of $40,000 from the same time last year, and an 8.6per cent fall from the March quarter ($350,000).
But Stockdale and Leggo Bacchus Marsh’s managing director, Mark Shelly, questioned the figures.
“These types of figures can be distorted,” he said. “Our house prices haven’t fallen; I’d say they have plateaued. We usually don’t see great fluctuations in house prices in the area.”
Mr Shelly admitted vacant-land prices had decreased about 5 per cent, while there had been fewer transactions than this time last year.
He said that up to 85per cent of the agency’s properties were in the Bacchus Marsh area.
REIV communications manager Robert Larocca said the large drop was indicative of areas with a small number of sales. There were 35 sales in Moorabool for the June quarter.
“It’s not out of order; it happens in fringe areas like Moorabool,” he said.
