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Melbourne

The Melbourne property market has eased slightly over the past 12 months to May 2019.

There have been 400 properties listed over the past 12 months, while 310 have sold. This compares to 515 listings for the same time last year, and 472 sales.

The current median sales price of a house in Melbourne is $490,000. This represents a decline of -13.7% over the past 12 months.

The time it takes to sell a house in Melbourne is currently days. This timing is -28 days higher than a typical 4 week auction campaign.

For apartments, the median sales price is $590,000. Apartment prices have declined by -1.6% over the past 12 months. The time it takes to sell a unit in Melbourne is currently 49 days.

MICRO-SUBURBS
Median (# Sales)
HousesUnits
1NA$1,350,000
(2)
2$8,250,000
(1)		$580,000
(247)
3NA$712,500
(62)

Median Sales

House
Unit
$567,500

May 2018
(12 months)

$490,000

May 2019
(12 months)

$599,500

May 2018
(12 months)

$590,000

May 2019
(12 months)

 HouseMedian Sales Price Change inHouseMedian Sales Price

Number of Sales

14
May 2018
(12 months)
39
May 2019
(12 months)

178.6%

MOVEMENT

458
May 2018
(12 months)
271
May 2019
(12 months)

-40.8%

MOVEMENT

Number of Listings

 House Listings Unit Listings
3
397
VIEW CURRENT LISTINGS IN Melbourne
49
Days on Market

Rentals

Rental Yield

5.7%

Median Asking Rent

$545
per week

Percentage Rented

HOUSES & UNITS
66.8%

Rental Yield

4.8%

Median Asking Rent

$540
per week

Population

Population
47,293

Family Composition

CHILDLESS COUPLE

64.2%

COUPLES WITH CHILDREN

16%

SINGLE PARENTS

7.6%

OTHER

12.2%

Tenure Type

RENTING

66.8%

OWNS OUTRIGHT

14%

PURCHASING

15%

OTHER

0%

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.