The Victorian property market shows signs of ongoing stabilisation, with positive house price movements in both metropolitan and regional areas during the March 2025 quarter. Median house prices saw notable increases of 2.7% in metropolitan areas and 1.2% in regional Victoria, following declines of 2.0% and 1.3% in the previous quarter (December 2024).
In addition, modest growth in median unit and apartment prices was recorded, with metropolitan Victoria seeing a 0.9% increase and regional Victoria showing a 2.1% rise. This marks the first time since the December 2021 quarter that all four core market segments—houses, units, and apartments in both metropolitan and regional areas—have experienced positive results simultaneously.
Port Melbourne saw the highest quarterly increase for house prices at 18.6%, while Melton South recorded the most significant annual median house price growth of 8.3%.
For units and apartments, two Melbourne suburbs exceeded the impressive 20% quarterly growth threshold: Mordialloc (26.9%) and Preston (20.8%). In regional Victoria, units and apartments in Yarrawonga grew by a strong 18.8%.
Brighton, once again, stood out with the highest quarterly median prices. Houses in Brighton reached $3,325,000, while units and apartments hit a median of $1,355,000.
These results highlight the continued resilience and recovery of the Victorian property market, showcasing strong performance across key segments.
