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Melbourne’s median house value falls nearly $10,000 in one year: PropTrack Home Price Index

Press coverage 7 August 2024 Summary of published coverage
Melbourne’s median house value falls nearly $10,000 in one year: PropTrack Home Price Index

PropTrack’s home price index recorded Melbourne’s median house value slipping about $9,200 over the year to July 2024 to $912,000, while the unit median edged higher to $619,000. Buyer’s agents said the softness, combined with population growth and major transport projects, created an opening for new investors even as existing landlords sold in response to land tax and rental rule changes.

Reported by

Sarah Petty, News.com.au, 1 August 2024

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