House Prices

Across the city, the median price has jumped by 7.6 per cent in the first three months of the year – that’s the strongest quarterly growth since 2013.

Melbourne’s house prices are set to fall between 2018 and 2020 and then settle into a period of stagnation.

CoreLogic have released a fun stat this week – particularly fun if you’re a homeowner, not so much if you’re trying to become one.

Real estate experts are tipping suburbs in Melbourne’s west and Melbourne’s north as the ones to look out for this year.

Capital city house prices for the quarter have risen 2.3 per cent and 10.7 per cent for the last 12 months, according to the latest figures from CoreLogic.

Melbourne’s house prices have grown consistently for the last four years and its median house price now sits at $795,447 with further moderate growth predicted for 2017.

An unexpected surge in property prices in December has seen Melbourne’s housing market finish the year 13 per cent higher in value than when it started.

As most pundits are probably aware, Melbourne’s house prices are predicted to slow again next year, with the median house price growth expected to be around half of what it was this year.

Unlike the other cities around the country, Melbourne house prices fell 1.3 per cent for the month of November, with apartment prices falling even further, dropping by 3.2 per cent.

Melbourne and Sydney’s median house prices both pushed up to new highs for the September quarter amid ongoing low interest rates and solid local economies.