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Melbourne

Melbourne property prices have risen over the past 12 months with median house prices lifting by 3.9%.

The median price of a house in Melbourne is now $727,500 while the price of a unit is now $530,000, which is 2.9% up over the past 12 months.
The time it takes to sell a house across Melbourne is now 28 days, while it typically takes 43 days for units. But to truly understand how the market is performing, it pays to look into the data for your specific suburb or area as performance varies significantly from suburb to suburb.
Top performers for Melbourne houses are Newcomb where median house prices grew by 25.5% over the past 12 months to a price now of $452,000. For apartments, the top performer is Albert Park with unit prices lifting by 142% to $1,383,500.

TOP 10 MEDIAN SALE PRICE
1. Deepdene$2,692,500
2. Middle Park$2,650,000
3. Canterbury$2,385,000
4. Brighton$2,362,500
5. Balwyn$2,300,000
6. Kew$2,124,444
7. St Kilda West$2,100,000
8. Hawthorn East$2,050,000
9. Camberwell$2,007,500
10. Albert Park$1,953,750

Median Sales

House
Unit
$700,200

2017

$727,500

2018

$515,100

2017

$530,000

2018

 HouseMedian Sales Price Change inHouseMedian Sales Price

Number of Sales

63,815
2017
54,355
2018

-14.8%

MOVEMENT


30,730
2017
20,919
2018

-31.9%

MOVEMENT

Number of Listings

 House Listings Unit Listings
71,616
34,539
33
Days on Market

Rentals

Rental Yield

2.9%

Median Asking Rent

$430
per week

Percentage Rented

HOUSES & UNITS
30%

Rental Yield

4.1%

Median Asking Rent

$420
per week

Definitions and Disclaimers

The CoreLogic Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While CoreLogic uses commercially reasonable efforts to ensure the CoreLogic Data is current, CoreLogic does not warrant the accuracy, currency or completeness of the CoreLogic Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the CoreLogic Data.

The State of Victoria owns the copyright in the Property Sales Data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the Property Sales Data and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.