In the metropolitan area of Melbourne, Australia, the median home price was approximately 860,000 Australian dollars in the year 2023. In 2022, the median house price was about 890,000 Australian dollars.

Sydney had the highest median house value compared to other capital cities in Australia as of December 2024, with a value of over 1.47 million Australian dollars. Brisbane similarly had relatively high average residential housing values, passing Canberra and Melbourne to top the pricing markets for real estate across the country alongside Sydney. Housing affordability in Australia Throughout 2024, the average price of residential dwellings recovered across Australia, with most capital cities breaking price records despite interest rate hikes. Rising house prices continue to be an issue for potential homeowners, with many low and middle-income earners priced out of the market. In the third quarter of 2024, Australia’s house price-to-income ratio reached new heights at 122.1 index points. With the share of household income spent on mortgage repayments increasing alongside the disparity in supply and demand, inflating construction costs, and low borrowing capacity, the homeownership dream has become an unattainable prospect for the average person in Australia. Does the rental market offer better prospects? Renting for prolonged periods has become inevitable for many Australians due to the country’s largely inaccessible property ladder. However, record low vacancy rates and rising median weekly house and unit rent prices within Australia’s rental market are making renting a less appealing prospect. In financial year 2024, households in the Greater Sydney metropolitan area reported spending around 30 percent of their household income on rent.

Median prices for dwellings/townhouses, and apartments by their year of settlement for the City of Melbourne. Median prices for dwellings/townhouses, and apartments by their year of settlement for the City of Melbourne.

Median prices for dwellings/townhouses, and apartments by their year of sale for the City of Melbourne.

Graph and download economic data for Real Residential Property Prices for Australia (QAUR628BIS) from Q1 1970 to Q3 2024 about Australia, residential, HPI, housing, real, price index, indexes, and price.

Key information about House Prices Growth

• Australia house prices grew 6.6% YoY in Sep 2024, following an increase of 6.7% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Sep 2004 to Sep 2024, with an average growth rate of 6.0%.
• House price data reached an all-time high of 24.1% in Dec 2021 and a record low of -6.1% in Mar 2019.

CEIC calculates quarterly House Price Index Growth from quarterly Residential Dwellings: Mean Price of Eight Capital Cities. The Australian Bureau of Statistics provides Residential Dwellings: Mean Price of Eight Capital Cities in local currency. House Price Index Growth prior to Q3 2012 is calculated from Residential Property Price Index: Weighted Average of Eight Capital Cities.

Median prices for dwellings/townhouses, and apartments by their year of settlement for the City of Melbourne by CLUE Small area.

The report lists the percentage shift in median prices between quarters as well as the change over a 12-month period. An overall Melbourne metropolitan median sale price and country Victoria median …Show full descriptionThe report lists the percentage shift in median prices between quarters as well as the change over a 12-month period. An overall Melbourne metropolitan median sale price and country Victoria median sale price are also included for each property type.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Palm Bay-Melbourne-Titusville, FL (CBSA) (MEDLISPRIPERSQUFEEYY37340) from Jul 2017 to Feb 2025 about Palm Bay, square feet, FL, listing, median, price, and USA.

Graph and download economic data for Housing Inventory: Average Listing Price Year-Over-Year in Palm Bay-Melbourne-Titusville, FL (CBSA) (AVELISPRIYY37340) from Jul 2017 to Feb 2025 about Palm Bay, average, FL, listing, price, and USA.

The report lists the percentage shift in median prices since 1988. An overall Melbourne metropolitan\r median sale price and country Victoria median sale price are also included for\r each property type.\r \r

This dataset provides information about the number of properties, residents, and average property values for Melbourne Green cross streets in Fairport, NY.

This dataset provides information about the number of properties, residents, and average property values for Jackson Avenue cross streets in Melbourne, FL.

Graph and download economic data for Housing Inventory: Median Days on Market Year-Over-Year in Palm Bay-Melbourne-Titusville, FL (CBSA) (MEDDAYONMARYY37340) from Jul 2017 to Feb 2025 about Palm Bay, FL, median, and USA.

This dataset provides information about the number of properties, residents, and average property values for Melbourne Drive cross streets in New Haven, IN.

The average housing costs for Australian renters of private property amounted to 415 Australian dollars per week in 2020. In 2022, between 21 to 29 percent of the household income of renters was spent on rent across the country.

Short-term impact of the coronavirus pandemic

With the global outbreak of COVID-19, the historically strong Australian housing market is not immune. In the short-term, the country saw a drop in rental housing demand as a direct result of migration ceasing, falling overseas student numbers, and younger people opting to stay home. With travel opening up, a spike in rental vacancy rates is expected, with short-term rentals, such as those from travel websites, suddenly flooding the long-term rental market. The influx of housing may ease pressure on potential tenants in certain areas, and it may have the carry-on effect of rental costs stabilizing, or in some cases declining. In the inner suburbs of Sydney and Melbourne, for instance, there has already been a significant increase in rental listings compared to the previous year.

This dataset provides information about the number of properties, residents, and average property values for Melbourne Street cross streets in Salt Lake City, UT.

Graph and download economic data for Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Palm Bay-Melbourne-Titusville, FL (CBSA) (MEDSQUFEEYY37340) from Jul 2017 to Feb 2025 about Palm Bay, square feet, FL, median, and USA.

This dataset provides information about the number of properties, residents, and average property values for Melbourne Avenue cross streets in Merritt Island, FL.

This statistic shows median price for a two-bedroom apartment in Melbourne, Australia in 2015/2016, by region. That year, the median price for a two-bedroom apartment in Regional Melbourne was 235,000 Australian dollars.