Your guide to the Melbourne property market and house prices

Your guide to the Melbourne property market and house prices

When it comes to liveable Australian cities, it’s hard to beat Melbourne. With some of the best coffee, bars, food and art on your doorstep, it’s truly a cultural mecca for young and old.

From the vibrant city centre and bohemian buzz of Fitzroy to the relaxed St. Kilda, there’s something for everyone. This extends to the property market too, with Melbourne offering a great mix of brand new apartment complexes and older fixer-uppers.

There’s plenty of great opportunities for first-time homeowners too, with the median unit price being $420,000, according to realestate.com.au. That’s compared to $950,000 for Sydney, a capital city of similar size.

It’s no surprise then that Melbourne has a large population of young professionals, with data from CoreLogic showing that the predominant age group is 20-29.

Thinking of buying in Melbourne? You can check out the table below to compare median suburb prices:

Info via realestate.com.au

Buying a property in Melbourne can be quite competitive, with realestate.com.au showing an average of 207 visits per property.

So, you may want to consider using a Melbourne mortgage broker to help you secure a loan. A good mortgage broker in Melbourne will be able to compare hundreds of home loan products to find you the best possible deal.

They will also be able to provide you with insights into the Melbourne property market and guide you through to settlement.

At eChoice, we have some of the top mortgage brokers in Melbourne who can help you find the best home loan for you.

Unlock your suburb's demographic profile

I am a
living in .

I am looking to buy a property
in .

Looking to buy in Ultimo, NSW 2007.

Roof
Average property price
$1,000,000
Average loan amount
$800,000
Average annual salary
$60,000
Average credit card limit
$2,400
house foundation

This information is a guide only and is an estimate only based on the past 12 months of aggregated online mortgage enquiries from eChoice and partner programs.

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