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.
Chat to us about how a property advocate can help you sell or buy in the current market with confidence. Investment buyers can receive invaluable support and guidance through our Buyers Advocacy Service, and for landlords who are selling, our Vendor Advocacy Service helps vendors achieve outstanding results.
To book a free 20-minute consultation, simply click here and choose a time convenient to you.
