Melbourne’s median home price falls below Adelaide and Perth, as experts blame VIC gov policies

CoreLogic data placed Melbourne’s combined median dwelling value at $776,044 in August, behind Adelaide on $790,789 and Perth on $785,250, the first time Adelaide had sat above the Victorian capital on record. Analysts pointed to Melbourne’s larger unit share and flat to falling values. Buyer’s advocates blamed the state’s January land tax increase and tighter rental rules for pushing landlords to sell.