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Melbourne property prices are falling even as the rest of the country rises.
CAPITAL GROWTH
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The price of an Aussie home is now 6.60% more than it was in April last year, according to PropTrack.
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Oxford Economics predicts the median Melbourne house price will grow 21 per cent over the next three years.
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House prices have soared by 50 per cent in some Mornington Peninsula suburbs over the past five years.
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A town most famous for a blowhole that has on occasion proved deadly has blown Byron Bay out of the water when it comes to property prices.
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Where in Australia are property values likely to rise most this year?
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Homes in regional Australia have recorded stronger price growth than in capital cities in the past three months.
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Could Melbourne’s property market be the best-kept secret in the country?
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Australian property prices rose 0.6 per cent in March, capping off a solid first quarter of 2024 in which median home values lifted about $12,000.
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Well-located suburbs close to the city are tipped to outperform the Perth property market this year, according to a new analysis.
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A handful of Melbourne suburbs recorded double-digit property price increases over 2023, bucking the city’s wider trend of modest growth.
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Despite a perceived shortage of homes for sale, the Perth property market performed well in 2023, with 53,895 settled sales over houses, units and land.
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