Melbourne Property Values Continue Decline Amidst Rental Tightness

Melbourne recorded a 1.1% fall in August, placing values 6.8% below the March 2022 peak, marking the longest unbroken decline among capital cities. Meanwhile, the national vacancy rate rose slightly to 1.9% in August, still well below the pre-COVID average.

For Melbourne's western growth corridor, this suggests potential buying opportunities as values soften. Investors might find attractive rental yields, but should note the two-speed market where houses outperform units.