House Prices Surge in Melbourne and Sydney

Sensational home price gains in Melbourne and Sydney over the last month are encouraging the national average dwelling values to move slightly higher. However, analysts are cautioning that the bump in August probably isn’t the start of a new boom. 

Capital home prices rose by around 1% in August, driven by 1.4% and 1.6% rises in Melbourne and Sydney respectively. Additionally, five of the eight capital cities in the country had major price rises, while Perth, Darwin, and Adelaide continued to fall. 

According to CoreLogic, the monthly home value index showed an average of around 0.8% rise in dwelling values nationally, although Sydney’s gain was twice that size. Additionally, Melbourne’s 1.4% monthly gain made a huge dent in the overall result. 

No other capitals in Australia came close to the impact offered by Melbourne and Sydney together. Canberra achieved a 0.8% rise, while Brisbane managed 0.2% and Hobart achieved 0.5%. Regional markets beyond the capitals lagged too. 

Moving Forward in the Housing Market 

The prices for property have risen modestly for the previous two months of Winter in Melbourne and Sydney. However, the results in August really made a significant change to the market, providing much greater growth than any expert would have predicted. Tim Lawless of CoreLogic said that the extra stock coming into the market at this time of year would probably constrain further house price gains going forward. 

As spring arrives, the experts believe more stock will be flowing into the market. However, there haven’t been as many properties in the market over the last few years. As vendor confidence improves, that may well change, however. AMP capital economist Shane Oliver agrees, thinking that the rebound will be limited to an increase of around 5% in Sydney and Melbourne across the next year or so.

Keep up to date

get updates on properties, news and more across Melbourne

More To Explore


Beef Rib Taco Recipe

Inspired by the Kansas City style of barbecuing and his love of flavors from the comfort foods of the southern United States, Lance closed his restaurant Rusk to embark on a new direction. One fueled by apple, oak and cherry wood. Many thought he had gone completely mad, even his wife. His love of BBQ

Insider Tips

Pros and Cons of investing in apartments

So you want to invest in real estate? Congratulations. It’s a big step and an exciting one. Real Estate has made many Australians wealthy and you could be the next real estate millionaire. With this post, we wanted to briefly touch upon the relative benefits of investing in apartments whilst also being realistic and looking

Insider Tips

Pets & Apartments: 6 Tips to Make It Work

Pets are an important part of the family. They can become an incredibly fulfilling part of your life. But having a pet when living in an apartment presents its own set of challenges. With this article, I want to share with you 6 tips that can help make apartment living with Pets work.  Speak with


Simple ways of making your apartment feel larger

Living in apartments for any amount of time can get you feeling cooped up, hemmed in, and craving the outdoors. Humans and nature are inseparable, no matter how much we’ve evolved. The earth, sky, sunshine, greenery, and air calm and refresh us. One of the most straightforward solutions if you can’t go out to nature

Looking for a property?

Search across Melbourne with Buy Melbourne Apartments

Sign in to see your favourite properties

Save your favourite properties and access them anytime. Your shortlisted properties will appear on this page.