Australian Property News

Melbourne Property Prices Continue Decline to 2021 Levels

By Ravs Realtors · 30 September 2026 · 1 min read · Source: realestate.com.au
Photo: pellethepoet / flickr · CC BY 2.0

Melbourne's median house price dropped by nearly $2,000 in September to $960,000, returning to 2021 figures. This 0.2% monthly decline contributes to a 6.2% annual decrease, or $63,500, from the previous year.

This ongoing correction in Melbourne could present a more accessible entry point for first-home buyers and investors in the western growth corridor. Sellers may need to adjust expectations to align with current market conditions.

Summarised by Ravs Realtors from reporting by realestate.com.au.

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Melbourne Property Prices Continue Decline to 2021 Levels | Ravs Insights