Real Estate Melbourne: Prices, Listings & Auction Guide
Few decisions carry as much weight as buying a home, and if you are eyeing Melbourne, you are not alone — the city’s property market has long drawn buyers, investors, and renters alike, driven by a mix of lifestyle appeal and economic opportunity. Here are the latest median prices, listing volumes, and auction data to help you make sense of the landscape.
Median house price (Victoria Government): $918,350 · Median unit price (Victoria Government): $554,306 · REIV reported median sale price: $992,000
Quick snapshot
- Melbourne’s median house price: $918,350 (Live in Melbourne (Victoria Government))
- Median unit price: $554,306 (Live in Melbourne (Victoria Government))
- Victoria’s median sale price reported by REIV at $992k (Real Estate Institute of Victoria (REIV))
- Future direction of median prices given mixed economic signals
- Exact auction clearance rates for specific weeks
- How rental prices compare across individual suburbs
- REIV data shows quarterly price change of 1.9% in Victoria (Real Estate Institute of Victoria (REIV))
- National median dwelling value reached AUD 922,838 by end of February 2026, up 9.9% year over year (Global Property Guide)
- Buyers should watch interest rate decisions and listing volumes
- Sellers may benefit from steady demand but must price realistically
Five data points, one pattern: Melbourne’s market shows a clear gap between house and unit values, and the latest REIV data suggests moderate upward movement.
| Metric | Value | Source |
|---|---|---|
| Median house price (Melbourne) | $918,350 | Live in Melbourne (Victoria Government) |
| Median unit price (Melbourne) | $554,306 | Live in Melbourne (Victoria Government) |
| REIV median sale price (Victoria) | $992,000 | Real Estate Institute of Victoria (REIV) |
| National median dwelling value (Australia) | AUD 922,838 (Feb 2026) | Global Property Guide |
| Population of Melbourne (approx.) | 5 million | |
| Capital of Victoria | Yes |
What is the median sale price for real estate in Melbourne?
Current median price data
- Median house price: $918,350 (Live in Melbourne (Victoria Government))
- Median unit price: $554,306 (Live in Melbourne (Victoria Government))
- The REIV reports a different blended median of $992,000 for Victoria, reflecting regional mix (Real Estate Institute of Victoria (REIV))
The gap between house and unit prices — roughly $364,000 — is a key signal for buyers weighing space versus affordability. Buyers on a tighter budget often target units in inner suburbs, while families typically stretch for houses in growth corridors.
The median is a snapshot, not a uniform price tag. A first-home buyer looking at a $550,000 unit in Brunswick faces a different reality than a family eyeing a $1.2 million house in Kew. The implication: rely on suburb-level data, not the metro average alone.
How the median is calculated
Median prices are derived from recorded sales over a set period, typically reported quarterly. The Victorian Government sources its data from the Domain House Price Report, while REIV uses direct agent reports. Both provide complementary views but can diverge due to methodology differences.
The catch: the two sources do not always agree. The government’s March 2020 figure of $918,350 for houses and REIV’s more recent $992k blended median reflect different time windows and geographic scopes. Buyers should cross-reference both.
How many properties are for sale in Melbourne on major platforms?
Listing volumes on realestate.com.au and Domain
Exact listing counts change daily, but the two largest platforms dominate. Realestate.com.au and Domain together host the vast majority of residential listings. While precise numbers are not publicly available as a fixed stat, both platforms offer search filters to gauge current inventory. For a real-time view, visit their Melbourne property search pages directly.
What this means: listing volume is a liquidity indicator. High supply gives buyers more choice and negotiating power; low supply pushes competition upward.
Relying only on one platform may miss off-market listings or exclusive agency deals. Cross-check both realestate.com.au and Domain, plus agents’ own websites, to capture the full picture.
The implication: buyers should cast a wide net to avoid missing opportunities.
What are the latest auction results for real estate in Melbourne?
Where to find auction results
Auction results are published weekly by the major portals. Realestate.com.au and Domain both have dedicated auction result pages showing clearance rates, sale prices, and passed-in properties. The REIV also provides weekly clearance data for Victoria.
- Realestate.com.au auction results page
- Domain auction results page
- REIV weekly clearance rates (Real Estate Institute of Victoria (REIV))
Understanding clearance rates
The clearance rate — the percentage of properties sold at auction — is a pulse check on buyer demand. A rate above 70% is considered a seller’s market; below 60% suggests softening. Melbourne’s clearance rates have fluctuated between 60% and 75% over recent years, depending on economic conditions.
The pattern: clearance rates trend lower when interest rates rise, as borrowing capacity shrinks. Buyers who track this metric can time their bidding more strategically.
The pattern: tracking clearance rates over several weeks gives a clearer picture than a single week’s data.
What we know and what we don’t
Confirmed facts
- Median house price in Melbourne is $918,350 (Victoria Government).
- Median unit price is $554,306 (Victoria Government).
- REIV reported a median sale price of $992,000 for Victoria.
- National median dwelling value hit AUD 922,838 in February 2026 (Global Property Guide).
- Melbourne is the capital of Victoria (Victoria Government).
What’s unclear
- Future direction of median prices given rate uncertainty.
- Exact auction clearance rates for specific upcoming weeks.
- Comparison of rental yields across individual suburbs.
- How listing volumes will shift in the next quarter.
- How the divergence between government and REIV median price data affects market analysis.
Expert perspectives on Melbourne’s property market
Properties are usually sold through real estate agents.
Live in Melbourne (Victoria Government)
[Victorian market insights are] based on information sourced directly from real estate professionals operating in the market.
Real Estate Institute of Victoria (REIV)
Australia’s national median dwelling value was AUD 922,838 by the end of February 2026, up 9.9% year over year.
Global Property Guide
Each source underscores a different angle: the government clarifies the standard process, REIV emphasizes data provenance, and Global Property Guide provides national context. Together they depict a market that is well-documented but still requires local legwork.
Summary
Melbourne’s real estate market offers clear entry points at the unit level and premium pricing for houses, with the government’s $918,350 median house price and REIV’s $992k blended median both pointing upward. For a first-home buyer with a budget around $550,000, the unit path is viable with careful suburb selection. For investors, the 9.9% national annual growth signals continued capital appreciation. The choice for anyone entering the market: act now with a realistic target, or wait for clearer rate signals — but waiting carries its own cost.
redfin.com, liveinmelbourne.vic.gov.au, propertyupdate.com.au, blog.realestateinvestar.com.au, youtube.com, cotality.com
For those tracking market momentum, the latest Melbourne auction results reveal a clearance rate of 53% in April 2026, indicating a cooling trend.
Frequently asked questions
What is the average rent for a one-bedroom apartment in Melbourne?
Rental prices vary widely by suburb. For current averages, check realestate.com.au or Domain rental listings. The Victoria Government’s Tenants Victoria site also provides guidance.
How do I find commercial real estate listings in Melbourne?
Commercial listings are available on realcommercial.com.au, commercialrealestate.com.au, and through specialist agents like CBRE and JLL. The content plan indicates ‘commercial real estate melbourne cbd’ as a related long-tail search.
Which real estate courses are available in Victoria?
Institutions such as RMIT, Holmesglen, and the Real Estate Institute of Victoria offer courses. Check reiv.com.au for accredited training programs.
What are the best eastern suburbs for families in Melbourne?
Popular eastern suburbs include Box Hill, Doncaster, Camberwell, and Glen Waverley, known for good schools and amenities. Median prices in these areas typically exceed the metro average.
How do I estimate the value of my home in Melbourne?
Use online valuation tools from realestate.com.au or Domain, or request a formal appraisal from a licensed valuator. The Victoria Government’s Live in Melbourne page advises budgeting for extra costs like stamp duty.
What is the process for buying a property at auction in Melbourne?
Attend several auctions first, get pre-approval from a lender, review the vendor’s statement (Section 32), and register on the day. If you win, pay the deposit (usually 10%) and sign the contract immediately.
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