The March quarter saw property prices set a new record according to the PropTrack Home Price Index Report for March 2024.
Nationally, home prices rose 0.34% in value, an increase of 6.79% on March 2023 levels. All capital cities except Hobart recorded an increase during March 2024. A combined increase of 0.40% saw prices reach a new peak of 7.64% above the March 2023 levels.
Melbourne properties recorded a 0.27% increase during March, bringing the annual growth to date up to 1.71% and setting a new median value of $802,000. Across the rest of Victoria prices decreased 0.35% in March to record a median house price of $584,000.
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