Melbourne median house price falls below $1 million
Melbourne’s median metropolitan house price has slipped below the million-dollar mark but rents keep rising.
Rents are on the up while property prices are heading in the opposite direction in Melbourne. (Image source: Shutterstock.com)
Melbourne’s median metropolitan house price has slipped below the magic million-dollar mark.
The REIV’s September Quarterly Median Report reveals that Melbourne metropolitan house prices fell 7.4 per cent during the quarter to $993,000.
While rents continue to head the other direction, buyers have responded to five consecutive monthly interest rate hikes by sitting out of the market.
Across the city, 40 suburbs recorded house and unit rent ris…
