A home on The Block 2024, where for the first time in eight years each property has a price guide under $2m. The reality show’s auction day airs on Sunday 10 November on Nine.A home on The Block 2024, where for the first time in eight years each property has a price guide under $2m. The reality show’s auction day airs on Sunday 10 November on Nine.
While the state has seen a recent uptick in first-home buyers, becoming the leading jurisdiction in the past 12 months to make the housing dream a reality for those trying to get on to the property ladder, investors have fled the market with complaints of higher stamp duty and an increase to land tax.
With a brief period of growth through 2023-24, Melbourne dwelling values peaked in March 2022 and were 5.1% below record highs at the end of last month , according to data from CoreLogic. While some are lamenting the flat Melbourne market, housing economists say it is a good thing for new homebuyers.