Melbourne Real Estate

Melbourne property: assess houses and apartments separately

Latest value movement: Melbourne dwelling values fell 0.7% in September 2026 and 6.2% over the year, according to Cotality. Published 1 October 2026. Source: Cotality.

Houses and units: sale-price context

Domain’s June quarter 2026 stratified medians were $1,041,205 for houses and $587,137 for units. Quarterly changes were −3.1% and −0.05%, respectively. These measures describe that quarter’s sales and should not be treated as current individual property values. Source: Domain.

Look beyond a city-wide price

Build separate comparisons for established houses, townhouses and apartments. Compare the property’s usable space, condition, transport access and ongoing costs. When researching a new or off-the-plan home, examine the contract, delivery terms and specifications with an appropriate adviser rather than assuming the advertised design is the final outcome.

For apartments, check owners corporation records, finances, planned works and any reported defects. For houses, inspect the building and review the land’s constraints. Verify any school-zone or development claims directly with the responsible authority before relying on them.

Supply context: Victoria

Victoria recorded 5,163 dwelling approvals in August 2026, up 8.9% over the month, seasonally adjusted. Released 30 September 2026. These are state-wide approvals, not Melbourne completions or homes currently for sale. Source: ABS.

Before making a decision

Buyers: compare completed sales and obtain a current finance assessment. Sellers: evaluate agent recommendations against your dwelling type and competing homes. Investors: model income after levies, maintenance, insurance, management costs and relevant taxes, using advice appropriate to your circumstances.