The property market is influenced by a range of factors, including supply and demand, economic conditions, and government policies. These factors can vary over time and across different locations.
That being said, it is worth noting that property prices in Melbourne have historically been higher than other cities in Australia due to factors such as population growth, strong economic conditions, and high demand for property. However, whether the current property prices in Melbourne are overpriced or not would require analysis of the latest data and market trends.
It is recommended that you seek professional advice from a licensed real estate agent or a property valuer who has access to current market data to get a more informed opinion on the current state of the Melbourne property market.
Author: RealEstate
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