Melbourne Property Market · VIC · 2026 Guide

Melbourne property.
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$780K

Median house price

4.1%

Forecast growth 2026

3.5%

Avg gross yield

62%

Clearance rate

Melbourne property market 2026

Melbourne's property market is recovering from recent corrections, presenting buying opportunities in 2026. The city's strong population growth, world-class livability and diverse economy underpin long-term property fundamentals. Inner city apartments and growth corridor properties offer distinct opportunities for different buyer profiles.

Key Melbourne suburbs to watch

Inner North – Brunswick, Northcote, Preston
South East – Frankston, Cranbourne, Berwick
West – Werribee, Point Cook, Hoppers Crossing
Outer East – Ringwood, Croydon, Lilydale
Inner City – Richmond, Fitzroy, Collingwood

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// FAQ

Melbourne property questions

What are the best suburbs to invest in Melbourne in 2026?

Melbourne's best investment suburbs in 2026 include the inner north (Brunswick, Northcote) for capital growth, and the outer south-east (Frankston, Cranbourne) and west (Werribee, Point Cook) for better yields. The Metro Tunnel and North East Link infrastructure projects are supporting growth in connected suburbs.

What is the median house price in Melbourne?

Melbourne's median house price is approximately $780K in 2026, with units averaging $550K. Melbourne remains more affordable than Sydney, with good value in the middle ring suburbs within 20–30km of the CBD.

Is Melbourne property a good investment in 2026?

Melbourne is considered undervalued relative to Sydney in 2026, having experienced a correction. Population growth from international migration is driving rental demand and vacancy rates have tightened. The market is forecast to grow 4.1% in 2026, making it attractive for medium-term investors.