Melbourne Property Values Decline, Selling Times Lengthen in August

Melbourne home values declined by 1.1% in August 2026, contributing to a 4.7% annual fall. The median selling time increased to 43 days from 30 days a year prior, reflecting a shift in market dynamics.

This trend suggests that buyers in Melbourne's western growth corridor have more choice and less pressure, while sellers may need to be prepared for longer marketing periods and potentially adjust pricing strategies.