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The multi-cultural suburb of Brunswick, about 6 kilometres north of the CBD connects the more traditional inner-city suburbs of Carlton North and Fitzroy North, to the suburbs of Coburg and Pascoe Vale.
Brunswick and Brunswick East share the same postcode (3056), while Brunswick West is a separate suburb, according to Australia Post, with the postcode 3055. It is bound by Moonee Ponds to the west.
Brunswick’s retail heart is centred around the Sydney Road shopping village, which has been reincarnated over the last forty years from the strong Italian, Greek and Lebanese community which predominantly occupied the area.
Nowadays, Brunswick has been affected by the “yuppy” factor, with many prospective buyers outpriced from North Carlton and North Fitzroy, able to find what they want a little further north.
According to the REIV, Brunswick’s median house price for the year ended December 31, 2007, is $541,000, up 26.4 per cent since last year.
Values in Brunswick East over the same period increased 27.2 per cent to $567,750 and in Brunswick West, median values increased 37.2 per cent to $585,750.
By comparison, median values increased 12.6 per cent for homes in metropolitan Melbourne, to $425,000.
The REIV annualised median figures are considered more statistically reliable than the quarterly figures released throughout the year, because they include a much greater sample of sold properties.
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