Melbourne's property slump is creating winners and losers
Melbourne property values are still falling sharply, but slowing monthly declines and deep discounts on some property types suggest the market is becoming increasingly divided.
Buyers in Melbourne have an opportunity to upsize that may prove to be a one-off opportunity. (Image source: Lisa Parry)
The Melbourne property market is behind only Sydney for price falls, with more losses in October, but there may be signs some parts of the market may be starting to reach a bottom.
The median Melbourne dwelling value fell 2.7 per cent in the three months to the end of October, and were down 7.6 per cent for the year, according to analyst Cotality.
That annual decline was behind only Sydney, where prices have fallen 9.4 per cent.
Yet the rate o…
