Perth property in audacious overtaking move to go past Melbourne
Melbourne might still be the second largest property market in Australia, but in terms of property values it has just been overtaken by a Perth market that refuses to be subdued.
Perth real estate has raced past Melbourne's median property price. (Image source: Shutterstock.com)
Perth’s median property price has eclipsed that of Melbourne’s for the first time in a decade.
The benchmark price comparison reflects just how far Perth’s property market has come in the past five years. In 2021, the West Australian capital was priced almost 40 per cent below Melbourne median dwelling value.
Today, according to PropTrack, Perth’s median home value of $787,000 has overtaken Melbourne’s, which sits at $782,000.
While Perth’s ca…
