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Melbourne

Melbourne property prices have eased over the past 12 months with median house prices falling by -2%.

The median price of a house in Melbourne is now $710,750 while the price of a unit is now $527,000, which is -0.6% down over the past 12 months.
The time it takes to sell a house across Melbourne is now 34 days, while it typically takes 36 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. Middle Park$2,720,000
2. Deepdene$2,424,500
3. Canterbury$2,405,000
4. Brighton$2,300,000
5. Balwyn$2,205,000
6. Kew$1,895,000
7. Camberwell$1,861,250
8. Hampton$1,847,500
9. Surrey Hills$1,800,000
10. Black Rock$1,765,000

Median Sales

House
Unit
$725,000

May 2018
(12 months)

$710,750

May 2019
(12 months)

$530,000

May 2018
(12 months)

$527,000

May 2019
(12 months)

 HouseMedian Sales Price Change inHouseMedian Sales Price

Number of Sales

62,859
May 2018
(12 months)
50,366
May 2019
(12 months)

-19.9%

MOVEMENT


29,695
May 2018
(12 months)
17,476
May 2019
(12 months)

-41.1%

MOVEMENT

Number of Listings

 House Listings Unit Listings
71,543
34,554
35
Days on Market

Rentals

Rental Yield

2.9%

Median Asking Rent

$430
per week

Percentage Rented

HOUSES & UNITS
30%

Definitions and Disclaimers

Sales metrics are for the period 1 Jun 18 - May 19 unless otherwise stated. For listings, 1 Aug 18 - Jul 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.