Real Estate Melbourne - Real Estate Victoria

Real Estate Melbourne Vic

Melbourne, on the banks of the Yarra River in Victoria, is home to 3.2 million people from diverse backgrounds. The city itself is laid out in a symmetrical, rectangular grid, with wide streets and an abundance of parks and gardens. 

According to the March 2005 report from the Real Estate Institute of Victoria (REIV), Melbourne’s median house price plunged 4.8 per cent in the three months to the end of March. Hardest hit were some of Melbourne’s most expensive suburbs, including Kew, Templestowe and Malvern where prices slumped by as much as 18 per cent.

The March results reverse two quarters of modest recovery in the shaky Melbourne property market and have raised fears of an even bigger correction to come. Others, however, say the fall in median prices reflects an orderly adjustment in the market. Further ahead, leading analysts predict a return to price growth over 2006/07 as the next property cycle begins.

1. Melbourne Property Buyers
2. REIV Reports
3. Melbourne’s Better Performing Suburbs