Melbourne dwelling values held reasonably firm last month, marking the fifth consecutive month where values have been flat to falling.
The unit market is showing slightly stronger conditions relative to houses, with unit values continuing to rise at the rolling quarterly pace of 0.6% while house values were down half a percent over the past three months.
The stronger performance across the unit sector is quite the turn of events.
The growth rate in unit values was less than half the growth rate of houses over the past 12 months.
With Melbourne property listings now tracking 5.5% above the five-year average, buyers are moving back into a stronger position, resulting in longer vendor selling times and lower auction clearance rates.
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