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7 September 2022

About the Victorian Property Sales Report

The aim of the Victorian Property Sales Report is to present factual information relating to property sales occurring throughout Victoria over a period of 15 months.

The Victorian Property Sales Report provides the most comprehensive quarterly property data available. It represents 93 per cent of settled sales across the state and is based on official Notices of Acquisition.

Valuer-General Victoria commentary

Valuer-General Victoria has provided commentary for the March 2022 quarter – released September 2022.

The figures for the quarter are preliminary and represent 93 per cent of expected settled sales.

Highlights include:

Median house price in Victoria

  • Decreased by 4.4 per cent from $816,000 to $780,000 in the March 2022 quarter, having increased by 14.1 per cent in the previous quarter (September 2021 to December 2021).

Median price of units in Victoria

  • Decreased by 4.5 per cent from $628,000 to $600,000 in the March 2022 quarter, having increased by 6.4 per cent in the previous quarter.
  • The median price of units in Victoria for the March 2022 quarter was lower than the median price of houses.

Melbourne median house price

  • Decreased by 7.3 per cent to $890,000 in the March 2022 quarter and the median unit price increased by 3.8 per cent at $625,000.
  • For the 12 months to March 2022, median sales prices in metropolitan Melbourne increased by 8.5 per cent for houses and 1.3 per cent for units.

Country Victoria

  • The median house price in country Victoria increased by 4 per cent, at $585,000
  • Units decreased by 0.6 per cent to $411,500.
  • Over the 12 months to March 2022, median sale prices in country Victoria increased by 24.5 per cent for houses and by 12.7 per cent for units.
  • Of the 802 listed Victorian locations, 287 had median house price increases for the March 2022 quarter compared to 377 in the December 2021 quarter.
  • Nine localities recorded no change, 205 showed a decrease and 301 had insufficient sales.

Number of house sales

  • The highest number of house sales for the quarter was 314 in Tarneit.
  • There were 28 locations with 100 or more sales in the March 2022 quarter.

The Victorian Property Sales Reports are available on the Property sales statistics page.

Page last updated: 08/09/22