3 July 2024
About the Guide to Property Values
The Guide to Property Values is produced annually using data from Valuer-General Victoria and includes every property sale in the state.
Figures cover median prices by suburb for houses, units and vacant land; details of commercial, industrial and primary production sales; a summary of sales activity for every local government area; and statewide, metropolitan and country summaries.
This guide presents factual data relating to property sales received throughout Victoria during the 2023 calendar year.
Market summary from Valuer-General Victoria
The Victorian Valuer-General has provided commentary for 2023 property values – released July 2024.
Highlights include:
Median house price in Victoria
- The median house price in Victoria’s residential property market decreased by 3.1% to $755,000 in 2023.
Median house price in Melbourne
- The median house price in Metropolitan Melbourne property market decreased by 3.4% to $860,000 in 2023.
Median house price in country Victoria
- The median house price in Victoria’s country property market decreased by 0.9% to $575,000 in 2023.
Number of property sales
- The total number of property sales recorded in Victoria in 2023 was 157,880, with an additional 5% expected as the remaining 2023 notifications are received.
The Guide to Property Values 2023 is available on the Property sales statistics page:
Page last updated: 03/07/24