The figures, released by the Valuer General, are considered the most comprehensive, independent property sales information available.
It put the coastal township of Tyabb – which overlooks Western Port Bay as the best performer, saying house prices almost doubled last year. It was followed by St Kilda West in Melbourne’s inner-city, and Doreen in Melbourne’s north-west, where house prices increased a respective 49 and 48 per cent.
Apartments in the blue ribbon suburb of Canterbury performed better than anywhere else in the state, while for blocks of land – Sydenham, Dromana and Greensborough performed well increasing between 45 and 49 per cent. The best performer however was Cranbourne West. According to Land Victoria, which prepares the A Guide to Property Values report, land values increased a staggering 95 per cent last year.