The median sale price is now $679,000, compared to $672,00 overall in regional Victoria.
The median price for a three-bedroom house was $588,000 compared to $580,000 across regional Victoria.
Four-bedroom houses compared less favourably at $690,000 compared to $740,000.
Properties in Yarrawonga were however taking longer to sell with an average of 114 days on the market compared to the regional Victorian average of less than half that time at 51 days.
Median weekly rent is now $550 a week with a yield of 4.2 per cent compared to $500 across regional Victoria, yielding 4 per cent.
Further out in Bundalong, the median house price was $672,000, a 7.2 per cent increase over the previous quarter.
Median rental in Bundalong was $500 with a 4 per cent yield.
Agent, Xavier Leslie from Elders Real Estate said longer average time on the market could be related to the number of properties on the market in Yarrawonga and competition from Mulwala, with fewer properties on the market and which were not subject to the Victorian land tax.
A three-bedroom, well-maintained, but older brick home in Yarrawonga, with views over Lake Mulwala and close to the town centre, was recently listed at $935,000 and on the market for just 14 days before an offer was accepted.
The REIV data showed sustained annual growth across all major market segments.
Metropolitan house prices climbed to a median of $991,500, the highest level since September 2022 but for the first time, the median regional house price overtook the median metropolitan unit price.
The trend points to a sustained growth in Victoria’s regional centres in the strongest quarterly growth for regional house prices since 2021.
Regional home values have now reached record highs for three consecutive quarters.
REIV CEO Toby Balazs said in an election year, all eyes were on State leaders to take a closer look at the data and design policy that supports market stability.
He said the upcoming Budget presented a critical opportunity to recalibrate tax policy settings that had placed mounting pressure on investors and, in turn, constrained housing availability.
