We’re in the throes of a mid-winter cold snap and rainy weather which may be unwelcome, but we can’t say it is unexpected. What home owners and new home buyers may not have expected at this mid-year point is to see back-to-back rising house prices.
Following on from rises in the first quarter, the REIV’s June quarterly reports show continued price growth for house and unit prices across the Melbourne metropolitan area and regional Victoria.
During the second quarter of 2025, houses and units across the metropolitan area saw median price increases of 0.4% and 1.3% respectively. Regional Victoria experienced 2.6% and 3.1% median house and unit price increases.
Median house prices in metropolitan Melbourne have now reached $924,000 and units $635,000 while in regional Victoria the median house price is now $620,000 and units have reached $430,000.
Some locations saw significant quarterly growth, with Toorak leading the way in metro Melbourne. Houses in Toorak climbed a whopping 36.5% to reach a median price of $4,249,000 while apartments in Toorak rose 8.2% for the quarter to $975,000.
Regionally, Greater Mildura house prices rose 3.9% for the quarter, boosted by houses in the town of Merbein experiencing a 13.4% quarterly price increase.
With Melbourne property prices trending upwards, there is no better time to buy than right now.
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By Wendy Chamberlain
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With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent or Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.