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Median Property Price in Melbourne Drops During April

By Jamil Allouche

Anyone looking into purchasing property in Brunswick could be interested to know that the latest RP Data-Rismark Hedonic Home Value Index for April has highlighted a slight reduction in the median price for Melbourne property. This could present a fantastic opportunity to secure real estate in the region over the coming months. 

RP Data Economist Tim Lawless said the slowing down of market growth across major metropolitan centres could be a great opportunity for buyers, as well as shifting the nation's real estate landscape towards a more sustainable level of growth. 

"A lower rate of capital gains in Sydney and Melbourne where dwelling values surged 22.5 per cent and 16.4 per cent respectively over the current growth cycle, may now signal that these markets are moving through their growth cycle peak," said Mr Lawless in a May 1 statement. 

"The reduction in the rate of capital gains across the combined capital cities housing market brings growth back into a more sustainable range and will be a welcome relief for first home buyers."

Now could be the perfect time for first home buyers to consider taking out a home loan and purchasing property in Melbourne. 

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