Melbourne is one of the largest and most popular cities in Australia, and as such, the cost of real estate in the city can be relatively expensive compared to other cities in the country. However, like any real estate market, prices can vary depending on a range of factors, including location, property type, and market conditions.
According to recent data from property analysts, the median house price in Melbourne as of September 2021 was approximately AUD 955,000, while the median unit price was around AUD 600,000. These prices can vary significantly based on the specific suburb or neighborhood, with some areas commanding much higher prices than others.
Factors that can influence the cost of real estate in Melbourne include the desirability of the location, proximity to amenities and services, transportation links, and the condition and age of the property.
While Melbourne real estate can be expensive, there are still opportunities for buyers to find affordable properties in the city’s outer suburbs or in areas that are currently experiencing a buyer’s market. It’s always a good idea to work with a local real estate agent who can provide insights into the local market and help buyers find the right property at the right price.
Author: RealEstate
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