Docklands is the dearest

Dockland is the inner-city’s most expensive apartment market, according to RP Data.

Figures collected by RP Data show Docklands’ median apartment price is $600,000.

In contrast, North Melbourne’s median apartment price is $450,000, the CBD’s median price is $400,000 while Southbank’s median price is $550,000.  

But RP Data’s Victorian housing market specialist Robert Larocca warned that Docklands’ median price was affected by the sale of a high number of expensive properties.

Over the past year there have been 67 dwellings in Docklands sold for more than $1 million.

“In Docklands there’s that market at the top of the towers that’s like a Toorak in the sky effectively,” Mr Larocca said.

“Docklands does have the highest median sale price, but that’s obscured by a high volume of very expensive homes.”

Mr Larocca said it was important to consider this factor when looking at the inner-city apartment market.