Melbourne, Australia
Property prices · 2026 · Oceania · Price +2.9% vs 2025
Property price trend in Melbourne (2024–2026)
Property comparison — cities in Australia (2026)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Melbourne |
|---|---|---|---|---|
| Melbourne | AUD 15,515 | AUD 9,844 | AUD 2,354 | — |
| Sydney | AUD 19,795 | AUD 12,305 | AUD 2,996 | +27.6% |
| Canberra | AUD 11,990 | AUD 7,848 | AUD 2,398 | -22.7% |
| Gold Coast | AUD 11,118 | AUD 7,303 | AUD 2,289 | -28.3% |
| Brisbane | AUD 10,486 | AUD 6,955 | AUD 1,926 | -32.4% |
| Adelaide | AUD 9,265 | AUD 6,104 | AUD 2,071 | -40.3% |
| Perth | AUD 8,346 | AUD 5,564 | AUD 1,712 | -46.2% |
Other Oceania cities (2026)
Frequently asked questions
How much does property cost in Melbourne in 2026?
In Melbourne, the average price per sqm in the city centre is AUD 15,515, and AUD 9,844 outside the centre (2026 data). Prices have risen 7% since 2024.
How much is rent in Melbourne in 2026?
A 1-bedroom apartment in Melbourne rents for approximately AUD 2,354 per month in 2026. A 3-bedroom apartment costs around AUD 4,494/month.
Is it better to buy or rent in Melbourne?
Renting is generally more cost-effective in Melbourne. The price-to-rent ratio is 24.0x — it would take approximately 24.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 6.20%.
What are mortgage rates in Australia in 2026?
The average mortgage rate in Australia is approximately 6.20% as of 2026. With a price-to-rent ratio of 24.0x, buyers should carefully weigh mortgage costs against rental savings.
How have property prices in Melbourne changed?
Property prices in Melbourne have changed +2.9% vs 2025. Since 2024, prices have increased by 7%. Use the year tabs above to compare prices across years.
What is the price per sqm in Melbourne?
The average property price per square metre in Melbourne city centre is AUD 15,515 in 2026. Outside the centre, expect to pay around AUD 9,844/sqm.