Melbourne has shifted from a prolonged property downturn to one of the most value-driven real estate markets in Australia. After five years of changes, it now offers some of the most affordable prices among capital cities. According to Oliver Hume’s analysis, the market could see a 20% increase in transactions over the next year as investors turn their attention to new opportunities.
Matt Bell, Chief Economist at Oliver Hume, explained that the market had reached its lowest point in 15 years before beginning its recovery. He pointed to improving demand, rising prices, and strong underlying fundamentals supporting the market.
Meanwhile, Julian Coppini, the company’s CEO, confirmed that Melbourne has transformed from one of the most expensive cities to the most affordable in the national housing market, attracting buyers and investors from other states.
PIPA Chair Kate Bakos noted that housing affordability in Melbourne is drawing increased interest from outside Victoria, particularly toward detached homes in the more affordable segments of the market.
