September Sees Continued Decline in Capital City Home Prices

Capital city median house prices across Australia continued their downward trend, falling 1.0% in the September quarter, according to My Housing Market data. This represents the fifth consecutive monthly decline, although the rate of decrease was less than in August. Melbourne's house prices specifically dropped by 0.3% over the month.

For Melbourne's western growth corridor, these figures indicate a persistent buyer's market where price negotiation is more likely. Sellers should be aware of the ongoing softening and adjust pricing strategies accordingly, while buyers have more time to assess options.