Melbourne House Median Reaches $973,500 as Units Gain Faster

Melbourne’s median house price reached $973,500 in the December quarter of 2025, according to figures released by the Real Estate Institute of Victoria on 11 January 2026. The result was 1.8 per cent higher than in the preceding quarter.

Units and apartments recorded a slightly faster quarterly increase of 2.0 per cent, taking their median to $656,500. REIV described a fourth consecutive quarter of growth across the major Victorian market segments.

Different paths through the market

REIV reported that more than half of Melbourne suburbs had a house median above $1 million. That suburb count and the metropolitan median answer different questions: a citywide median combines the sales recorded across the market, while each suburb has its own mix of properties and transactions.

A buyer considering an apartment also needs to distinguish between the broad unit category and an individual building. Floor area, parking, condition, owners corporation costs and location can materially affect comparisons within that category.

Regional prices also increased

Outside metropolitan Melbourne, REIV recorded a 5.0 per cent quarterly increase in the median unit price and a regional house median of $643,000. The institute identified both regional figures as record highs in its series.

These are historical quarterly observations. A change in a median reflects both the prices achieved and the composition of sales during the period; it does not establish that every home increased in value by the reported percentage.