The median Melbourne house cost a record $936,000 by the December quarter, sitting 64 per cent above the median unit and well beyond the decade average gap of 52 per cent, Domain figures showed. Analysts attributed the divide to weaker investor demand and oversupply of inner city apartments. PIPA chairman Ben Kingsley said high density inner ring stock remained troubled and had not yet reached the bottom.
Reported by
Jennifer Duke and Matt Wade, The Sydney Morning Herald, 30 January 2021
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