Melbourne’s house prices have regained more than half their losses of the recent property downturn.
Domain’s House Price Report for the September quarter says this is the quickest turnaround ever.
Property prices rebounded by 4.1 per cent in three months to a median of $855,428 according to Domain
After peaking at the end of 2017, Melbourne’s median house price fell by 10.7 per cent throughout 2018 and the first half of 2019.
Domain senior research analyst Nicola Powell said the “remarkable” property market turnaround saw medians bouncing back by 5.5 per cent since the March trough.
“Melbourne house prices have rebounded for a second consecutive quarter and at a faster pace than in Sydney,” Dr Powell said.
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