Median Values Down in Melbourne, According to New Research
The full impact of interest rate rises, and a volatile sharemarket is expected to be felt most in March. These figures will be released later next month.
According to Residex, Melbourne’s median house value fell more than 2 per cent to $469,000 for February.
The research house says house prices in some suburbs fell 30 per cent, and anticipates "blue ribbon" suburbs such as those in the leafy east and south-east to suffer most this year.
At the same time, the number of mortgage defaults in Victoria has hit its highest point since 2001.
