Unit prices fell in Carlton, where many dwellings are student accommodation.Melbourne’s property market may be picking up overall, but despite recent value growth and upbeat auction clearance rates, the median property price in some suburbs is lower than five years ago.
But the market is now in short supply of both houses and units, Hassan said, with sellers holding back after last year’s market downturn. Some units that sold recently have lost tens of thousands of dollars off their original sale price. AAnothersold for $560,000 in 2020 but was snapped up this month for $530,550.
Ray White Oakleigh and Clayton senior sales executive Leigh Kelepouris said COVID had caused the overseas market to slow. He said some apartments were selling well and under competition, and two-bedroom, two-bathroom apartments were selling better than those with a single bedroom.