6 June 2024

About the Victorian Property Sales Report

The aim of the Victorian Property Sales Report is to present factual information relating to property sales occurring throughout Victoria over a period of 15 months.

The Victorian Property Sales Report provides the most comprehensive quarterly property data available. It represents 93 per cent of settled sales across the state and is based on official Notices of Acquisition.

Valuer-General Victoria commentary

Valuer-General Victoria has provided commentary for the December 2023 quarter – released June 2024.

The figures for the quarter are preliminary and represent 93 per cent of expected settled sales.

Highlights include:

Median house price in Victoria

  • Increased by 2.5 per cent from $751,400 to $770,000 in the December 2023 quarter, having decreased by 0.2 per cent in the previous quarter (June 2023 to September 2023).

Median price of units in Victoria

  • Increased by 1.7 per cent from $600,000 to $610,000 in the December 2023 quarter, having increased by 0.5 per cent in the previous quarter.
  • The median price of units in Victoria for the December 2023 quarter was lower than the median price of houses.

Melbourne median house price

  • Increased be 2.6 per cent to $875,000 in the December 2023 quarter and the median unit price increased by 1.3 percent to $625,000.
  • For the 12 months to December 2023, median sales prices in metropolitan Melbourne decreased by 2.2 per cent for houses and increased 2.5 per cent for units.

Country Victoria

  • The median house price in country Victoria increased by 1.2 percent to $585,000
  • Units increased by 3.7 per cent to $425,000.
  • Over the 12 months to December 2023, median sale prices in country Victoria increased by 1.2 per cent for houses and increased by 3.7 per cent for units.
  • Of the 747 listed Victorian locations, 233 had median house price increases for the December 2023 quarter compared to 217 in the September 2023 quarter.
  • Nine localities recorded no change, 199 showed a decrease and 261 had insufficient sales.

Number of house sales

  • The highest number of house sales for the quarter was 317 in Tarneit.
  • There were 30 locations with 100 or more sales in the December 2023 quarter.

The Victorian Property Sales Reports are available on the Property sales statistics page.

Page last updated: 05/06/24