The state’s inner-west is a “peaking house” for the most part, with the average house in Victoria having just over two-thirds of its current value.
But there’s another house in the outer-west that is almost certainly about to become more expensive.
That house is the Peaking House, which is in the western suburbs of Melbourne.
It was built in the 1920s and is now worth just over $1 million.
But it’s not the only house in Melbourne with a price tag of more than $1.5 million.
There’s also the $1-million house in South Melbourne that sits on the site of the former Melbourne Institute of Technology.
And there’s the $4-million home in the north of Melbourne that’s listed for $3.5-million.
What makes Peaking Houses so special?
The building has a large, central courtyard, with a small front garden and small rear patio.
Its roof is a massive, curved aluminium frame.
And it has a massive staircase, which leads to the main entrance.
It’s got the highest ceilings in the city.
The roof has been raised and is topped by a large metal chimney.
There are plenty of details to go around.
There is a lot of natural light coming into the house.
And it’s very much in the heart of the city, on a street in the suburbs.
It is one of Melbourne’s most famous houses.
But the Peaks are not the first to have their price tags rising.
Just over 30 years ago, another house on Peaking Street in Melbourne’s inner south, the Leisure House, also had a price rise.
And a decade later, a $1m house in Brunswick had a similar rise.
What’s behind these rising prices?
The Peaking houses’ design is unique.
It has a huge front courtyard and front garden with lots of natural daylight.
It also has a very large rear porch.
So you have an inner courtyard that is about a kilometre wide, with an open plan kitchen and living room, and a rear yard that is wide enough for a small backyard.
So the house has a lot more space than other houses, but it also has an abundance of natural sunlight.
It sits on a residential street.
And, unlike most of Melbourne, the house does not have a garage.
The cost of a PeakingHouse is just under $1,000 per month.
How much will the house go for?
It will be a huge price increase over the last 30 years.
The median price of a house in Australia in the last year was $1M.
And the average price of the house in 2016 was $2.8 million.
So a house that’s only been built for 30 years, with just under two-third of its value, will cost more than four times the average household in the state.
But if you’re the owner of the Peak house, you could be forgiven for thinking that this is a bargain.
There will be no water bill to worry about.
And you won’t have to worry that the Peaky House will be boarded up for decades.
You’ll be able to move in without worrying about maintenance.
But this isn’t the only property with a rising price tag.
There was also a $400m house on a similar site in Perth, which has also been sold.
And in 2015, a house on the same street in Melbourne had a whopping $2 million price tag, as well as a $900,000 house on St Kilda’s corner.
The question is: are these houses really worth the price tag?
Or are they just another cheap property in the market?
What do you think?
Are these house prices too high?
Are they too cheap?
What’s the real reason behind the rising prices in Melbourne?