The REIV 2012 March quarter median prices show that property prices have remained flat over the quarter and year. The median house price in metropolitan Melbourne was $535,000, representing a minor increase of 0.9 per cent from a revised December quarter median of $530,000.
REIV CEO Enzo Raimondo said that demand for residential property over the past year reflected the broader state of the economy and that buyers would continue to find that prices will maintain their current levels in the short term. Read more...