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Melbourne

Melbourne property prices have levelled out over the past 12 months to Feb 2019 with median house prices holding with 0% change.

The median price of a house in Melbourne is now $720,000 while the price of a unit is now $530,000, which is 1% up over the past 12 months.
The time it takes to sell a house across Melbourne is now 32 days, while it typically takes 34 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$2,528,000
2. Middle Park$2,512,500
3. Canterbury$2,365,000
4. Brighton$2,280,000
5. Balwyn$2,230,000
6. Camberwell$2,007,500
7. Albert Park$2,000,000
8. Kew$1,980,000
9. Surrey Hills$1,888,000
10. Glen Iris$1,830,000

Median Sales

House
Unit
$720,000

Feb 2018
(12 months)

$720,000

Feb 2019
(12 months)

$524,952

Feb 2018
(12 months)

$530,000

Feb 2019
(12 months)

 HouseMedian Sales Price Change inHouseMedian Sales Price

Number of Sales

60,998
Feb 2018
(12 months)
51,606
Feb 2019
(12 months)

-15.4%

MOVEMENT


25,314
Feb 2018
(12 months)
18,174
Feb 2019
(12 months)

-28.2%

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

Sales metrics are for the period 1 Mar 18 - Feb 19 unless otherwise stated. For listings, 1 May 18 - Apr 19.

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.