House Prices

Fresh research from property analysers SQM Research show house prices in Melbourne and Sydney could fall by up to 4 per cent this year.

Melbourne’s house and unit prices are closing the gap on Sydney and are the closest they’ve been for four years.

Our northern neighbour Sydney came second, behind only Hong Kong which ranked as the world’s most unaffordable city for property.

The Real Estate Institute of Victoria data says 154 out of Melbourne’s 402 suburbs have a $1 million or more median house price. 

Akin to an ‘end of year sale’, a property expert from Channel 9’s The Block says this can be a great time of year to snap up a bargain.

In a nation-wide first, a Melbourne vendor says they are happy to accept the notoriously volatile digital currency as payment for their property.

Melbourne property is outperforming Sydney, who has joined Perth and Darwin as the Australian capital cities to record a fall in house prices over the past three months.

Melbourne’s house prices have been booming since 2012, so what are the top ten performing suburbs over that time?

In days gone by it was really only a fringe minority of economists that were prepared to label Melbourne and Sydney’s property markets as housing bubbles, but there’s now a growing number of mainstream economists joining the chorus.

Analysts from Citi have forecast house prices to fall by up to 7 per cent by 2018 amid lending crackdowns and lowering household debt.