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Why must the City Melbourne market improve ?

Why must the City Melbourne market improve ?

Melbourne’s median dwelling values have risen 11.2% since the onset of Covid but are still -4.0% below their peak of March 2022.

Earlier this year, Brisbane dwelling values surpassed the median values in Melbourne. Before the pandemic, Melbourne's median dwelling values were 37% higher than Brisbane's. However, since the onset of Covid, Brisbane's values have grown at over five times the rate of Melbourne's, with an increase of 59.8%.

The Melbourne housing market has not performed as strongly as some other capitals over the past year or two. Melbourne’s recovery is lagging Sydney and Brisbane, where prices fully recovered from 2022 falls last year.

Median dwelling values for Sydney, Brisbane, Adelaide, and Perth may be reaching their peaks in the current cycles. This creates a window of opportunity as Melbourne property values have significant upside potential.