Melbourne home prices lag other capitals, but buyers spot value in key suburbs
Melbourne remains the cheapest mainland capital city market and is still below its 2022 peak, yet relative affordability and suburb-level demand are creating pockets of strong growth despite higher interest rates.
Some real estate pockets of Melbourne are soaring, in defiance of a lethargic wider market. (Image source: Craig Francis/API Magazine)
Melbourne property prices are substantially lower than all other major capital cities, and despite a modest uplift over the past year, still remain below the peak of almost four years ago.
Last week’s interest rate rise
, with the possibility of more on the horizon, has put paid to speculation the southern capital is on the cusp of a resurgence, but buying opportunities remain, according to experts.In January home values rose 0.8 per cent natio…
