Melbourne: A rare house price oasis in Australia’s overheated property market.
While most capitals are pricing out first home buyers, Melbourne is quietly becoming more accessible — thanks in large part to Victoria’s investor-targeted tax regime.
No praise, of course, is given to the state government for:
• The Vacant Residential Land Tax (discouraging empty homes)
• Higher land tax rates on investment properties
• The windfall gains tax on rezoned land
These measures have cooled investor demand and helped keep prices within reach of everyday buyers. Other states take note.
https://www.macrobusiness.com.au/2025/05/how-melbourne-transformed-into-a-house-price-oasis/
MacroBusiness · How Melbourne transformed into a house price oasisAccording to CoreLogic’s April home value index, Melbourne is the nation’s cheapest major capital city property market. Melbourne’s median dwelling value was $786,158 at the end of April 2025, $119,605 (13% lower) than the national capital city median. The improved affordability of Melbourne’s housing market comes after five years of relative stagnation. As seen in
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