Melbourne's northern suburbs are in "boom time" conditions, with their relative affordability fuelling record clearance rates and strong prices growth.
House prices for auctioned properties in the northern suburbs jumped nearly $100,000 over the year to a median of $691,000 in March, Domain Group data shows.
Monthly clearance rates in the region also soared to 83.4 per cent from 68.7 per cent in a year.
Domain Group chief economist Andrew Wilson said this would be one of the northern suburbs' strongest ??? if not the strongest ??? clearance rates ever achieved.
House hunters in the north were driven by relative affordability because the area had some of the cheapest houses in Melbourne, he said. Though the north was traditionally not a very auction-oriented area, it was now clearly Melbourne's strongest auction market.
"It's a booming market at the moment," Dr Wilson said. "Every weekend we see that [the north] is at the top of the list and we've seen some weekends with 90 per cent clearance rates in the north."
The north-east was the only other region to record monthly clearance rate above 80 per cent, while the inner-city suburbs had the lowest clearance rate of 72.5 per cent.
Across the city, monthly clearance rates also strengthened to 76.9 per cent compared to 71.9 per cent at the same time last year.
The top performing suburbs for houses included Coburg North, Greensborough, Oakleigh South, Carlton North and Vermont, where every seller had reason to celebrate over March.
Meanwhile, Brunswick, Murrumbeena, Blackburn South and Coburg North were among the suburbs where every unit sold under auction conditions.
Nelson Alexander Brunswick sales director Duncan McPherson said the strength in the Coburg North market represented the ripple effect happening in Melbourne.
"Buyers are moving from one suburb to the next to the next," Mr McPherson said. "If you think of Melbourne as a pond, then you drop a pebble in that pond, it will ripple out - from Carlton and Fitzroy, to Brunswick to Coburg to Coburg North."
The public transport options and the Upfield bike path were attracting people to the area, he said.
Mr McPherson believed the unit market in Brunswick was also enjoying the overflow from the detached housing market. Nelson Alexander's Brunswick office sold 20 houses over the $1 million mark last month alone, he said, pricing many potential buyers out.
"They are then looking at units to get a foothold, and use it as a launching pad for the next sector of the market, while they enjoy the amenity of the area."
A wave of would-be buyers were also looking further afield in the north-east after being priced out of suburbs closer in.
Gordon Whale, of Miles Real Estate, said family buyers were migrating from suburbs such as MacLeod, Heidelberg and Rosanna to Greensborough because they saw excellent value.
Drawcards for the leafy, family-oriented suburb included the shopping centre, its train station and good primary and secondary schools, he said.
"It's that nice little enclave ??? it doesn't look like a flat paddock out in the middle of nowhere," he said. "It's got a bit of a character and soul in it."
