The impact of location factors on housing price variation in Melbourne: A case study of Western Melbourne Metropolitan Region

The spatial factors such as accessibility of community services such as schools, neighbourhood shopping centres, distance from regional shopping centres, CBD and tertiary education centres affect the housing price variation among different localities within a city. This paper examines the effects of locational factors that contribute to median house price rise in Western Melbourne Metropolitan (WMM) region in Victoria. Location factors and housing price data of each of the suburbs within WMM in 2001, 2006 and 2016 were collected from Corelogic and spatial data Victoria. This study found that rise of median house price varied among the suburbs and also was attributed to the availability, distance and distribution of location factors within WMM.