House and unit prices across Victoria have risen for a second consecutive quarter as interest rate cuts, climbing wages and easing living costs drive renewed market confidence, including across East Gippsland.
Quarterly median data from the Real Estate Institute of Victoria (REIV) has shown that in the three-month period to June 30 (Q2 2025), house prices climbed 0.4 per cent and units climbed 1.3 per cent compared to the previous quarter. In regional Victoria, houses rose 2.6 per cent and units rose 3.1 per cent.
REIV interim chief executive officer Jacob Caine said this quarter’s medians indicate improving economic conditions and a case for both buyer and seller optimism.
“Buyers and sellers across the state appear to be cautiously confident as cash rate cuts, annual wages growth and signs of easing living costs drive another quarter of widespread but modest growth. In addition, the market is seeing encouraging signs that the supply of new residential housing in Victoria appears to be outpacing other states,” Mr Caine said.
“It’s pleasing to see that throughout the first half of 2025, transaction activity has held strong and plenty of buying options exist across Victoria for all budgets and lifestyles.”
Suburb Lower Quartile Jun-25 Median Upper Quartile Mar-25 Median Quarterly Change Annual Change
East Gippsland $445,000 $542,500 $720,000 $542,500 0.0% -1.4%
Bairnsdale $409,000 $475,000 $577,500 $470,000 1.1% 3.3%
Bruthen $350,000 $442,000 $500,000 $434,000 1.8% -12.3%
Eagle Point $500,000 $680,000 $840,000 $735,000 -7.5% -1.4%
East Bairnsdale $322,500 $340,000 $515,000 $385,000 -11.7% -10.5%
Eastwood $545,000 $607,500 $735,000 $595,000 2.1% 3.0%
Kalimna $380,000 $455,000 $537,000 – – 1.1%
Lakes Entrance $435,000 $520,000 $643,000 $503,500 3.3% -12.6%
Lindenow $375,000 $470,000 $650,000 $517,500 -9.2% –
Lucknow $480,000 $540,000 $630,000 $570,000 -5.3% -7.7%
Metung $520,000 $665,000 $840,000 $675,000 -1.5% -12.9%
Newlands Arm $485,000 $587,500 $885,000 $587,500 0.0% -13.0%
Nicholson $650,000 $745,000 $900,000 $760,000 -2.0% 2.2%
Paynesville $480,000 $539,500 $660,000 $532,500 1.3% 5.0%
Raymond Island $385,000 $527,500 $675,000 $525,000 0.5% -12.8%
Swan Reach $600,000 $638,500 $720,000 $665,000 -4.0% –
Wy Yung $486,000 $772,500 $885,000 $751,250 2.8% 11.1%
