Melbourne suburbs where house prices rose – and fell – the most
Melbourne's property market is showing a divergence, with house prices in affluent suburbs like Toorak falling significantly while outer-suburban areas see price growth. This trend is creating new challenges for first-time homebuyers in previously affordable regions.
Why it matters
The shift in property values highlights changing economic dynamics in urban housing markets and the impact on housing affordability.
Property News Melbourne house prices Melbourne suburbs where house prices rose – and fell – the most Melissa Heagney-Bayliss August 1, 2026 — 5:00am
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Share A A A Key points House prices in the ritzier suburbs are falling, while those in the outer areas are rising. Toorak’s house prices dropped by 26.6 per cent, while in Riddells Creek they are up 22.5 per cent. More expensive homes in affordable areas are making it tougher for first home buyers experts say. Home buyers in Melbourne’s blue chip suburbs can now pick up a relative bargain as the city’s property prices fall, but those looking for their first home in more affordable neighbourhoods may have to pay more.
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