The statistic that any property owner, whether they’re an investor or an owner-occupier, is most interested in is property prices. This article provides information on Melbourne Property Prices during the 2013 to 2018 period, broken down into quarterly intervals. We show the percentage change compared to the previous quarter, as well as the mean price of properties in that quarter.
Melbourne Property Prices Growth
This graph shows the percentage increase or decrease of Melbourne property prices from the 1st quarter of 2013 until the 1st quarter of 2018. Anything above the 0.00% line shows that property prices grew that quarter, even if the column is shorter than the preceding column. For example, a 2% increase is still an increase, even if it’s less than a 3% increase.
Melbourne property prices grew for 4+ years straight without a single dip until the first quarter of 2018. The period with the largest growth was Q4 of 2016 at 5.3%.
Melbourne Property Prices (Mean)
This graph shows the average Melbourne property price during the same period as shown above. Prices reached their peak in Q4 2017 with a mean property price of $754,000, an increase of $247,000 from the start of 2013.
Unlike many other pricing comparisons, this article lists the mean prices of property rather than the median price. Listing the mean prices gives a more accurate representation of the actual composition of Victorian and Melbourne property prices.
Melbourne Property Prices Statistics
The percentage growth statistics in this article are sourced from the Australian Bureau of Statistics Residential Property Price Index (RPPI). The ABS has been compiling this Index since 1985. However, due to changes in the methodology used by the ABS in compiling the relevant information, the Indexes prior to 2013 cannot be directly compared to those used in this article. The data used to create the RPPI was sorted into strata based on dwelling type, long term median price and socio-economic scores.
The mean house prices are also sourced from the Australian Bureau of Statistics. However, this data was not stratified, so it cannot be directly compared with the data in the RPPI. This is also why the mean Melbourne property prices shown do not necessarily align with the Index percentage changes.
While all reasonable care has been taken in the preparation of this article, we accept no liability for any direct or indirect loss or damage as a result of reliance upon this article. Always consult an expert before making investment decisions or property purchasing decisions.