4 September 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 June 2024 quarter – released December 2024.

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

Highlights include:

Median house price in Victoria

  • Decreased by 0.2 per cent from $751,500 to $750,000 in the June 2024 quarter, having decreased by 3.3 per cent in the previous quarter (January 2024 to March 2024).

Median price of units in Victoria

  • Increased by 1.7 per cent from $590,000 to $600,000 in the June 2024 quarter, having increased by 4.1 per cent in the previous quarter.
  • The median price of units in Victoria for the June 2024 quarter was lower than the median price of houses.

Melbourne median house price

  • Decreased by 1.2 per cent to $850,000 in the June 2024 quarter, and the median unit price increased by 1.7 per cent to $615,000.
  • For the 12 months to June 2024, median sales prices in metropolitan Melbourne decreased by 0.6 per cent while units remained consistent over the 12 months.

Country Victoria

  • The median house price in country Victoria decreased by 0.9 per cent to $575,000.
  • Units decreased by 1.2 per cent to $420,000.
  • Over the 12 months to June 2024, median sale prices in country Victoria showed no change for both houses and units.

Number of house sales

  • Of the 743 listed Victorian locations, 199 had median house price increases for the June 2024 quarter compared to 210 in the March 2024 quarter.
  • Eight localities recorded no change, 231 showed a decrease, and 268 had insufficient sales.
  • The highest number of house sales for the quarter was 362 in Tarneit.
  • There were 30 locations with 100 or more sales in the June 2024 quarter.

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

Page last updated: 04/12/24