Home prices hit a record high as Melbourne Property Market leads growth!

Dear Fellow Property Investor,

Australian home prices have surged to new heights in October, marking the 22nd consecutive month of growth despite ongoing affordability challenges.

National home prices increased by 0.26 per cent in October, with the combined capital cities now up 5.85 per cent over the past year.

Melbourne emerged as the strongest performer among capital cities, with prices jumping 0.49 per cent after six months of decline.

REA Group Senior Economist, Eleanor Creagh said price falls have started to reverse in Melbourne, with buyers out in force for the peak of spring selling season.

Here are some of Melbourne’s best performing suburbs in the September quarter of 2024;

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