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Melbourne House Prices Melbourne House Prices

The average house price in Melbourne is £473,500 using HM Land Registry data.

The average property price decreased by £6,456 (--1.99%) over the last 5 years and decreased by £1,290 (--0.41%) over the last 12 months.

Over the last year, there were 55 residential property sales – a decrease of 17 transactions (-30.91%) relative to the previous year. The majority of house sales (14) were in the £232,000 - £304,000 range. Then came properties in the £160,000 - £232,000 range, where 12 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 45 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-6,652 (-2%).

In April 2024, there were 13 new estate agency instructions, 7 agreed home sales and 6 property price reductions.

Postcodes Covered: DE73

5-Year Average Property Prices in Melbourne

-1.99%

Property prices in Melbourne decreased by -1.99% in last 5 years.

The trend shows the general price tendency over the last 5 years, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Average Property Prices in Melbourne Over the Last Year

-0.41%

Property prices in Melbourne decreased by -0.41% in last 12 months.

The trend shows the general price tendency over the last 12 months, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Property Market Heat Gauge for Melbourne - April 2024

Our Property Market Heat Gauge looks at how long properties in your postcode district have been on the open market before being changed to sold 'Subject to Contract' ('STC') or 'Under Offer' on Rightmove (the UK's leading property portal).

At 41 to 60 days, the broad evidence suggests that the market is reasonably slow moving. Although some sellers in your postcode may be willing to wait up to 9 weeks, this data would suggest that estate agents may be overvaluing properties. In such scenarios, some vendors may either choose to wait for the market to pick up (which may result in relisting the property at a later date).Others simply reduce the price to a level that will entice more buyer interest or approach a sell house fast or auction company like Property Solvers.

Please note that this is not an indicator of how quickly property sales are taking to complete (i.e. to go through the whole conveyancing process). This measurement also does not take into account the risk of home sales falling through.

No. of New Instructions Over the Last 12 Months in Melbourne

Using local estate agency reported data, this chart illustrates the number of properties that have come on to the market.

No. of Agreed Home Sales Over the Last 12 Months in Melbourne

Using local estate agency reported data, this chart illustrates the number of property sales agreed. Note that these figures are not fully reflective of properties completed (sold and registered as such at HM Land Registry).

No. of Properties with Price Reductions in Melbourne

Using local estate agency reported data, this chart illustrates the number of properties which have been seen their prices dropped (typically due to a lack of buyer interest).

Average Annual House Prices in the Melbourne since 1995

Using HM Land Registry data, this chart displays average annual house prices in the Melbourne area since 1995.

Recent Property Sales in Melbourne

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
33 North Street, Melbourne, Derby, Derbyshire, DE73 8FZ£225,000£220,000-£5,00009 Nov 202322 Mar 2024134 Days
35 Castle Mills, Melbourne, Derby, Derbyshire, DE73 8BF£178,000£177,500-£50010 Oct 202112 Jan 2024824 Days
55 Blanch Croft, Melbourne, Derby, Derbyshire, DE73 8GG£265,000£265,000£0003 Oct 202311 Jan 2024100 Days
14 Huntingdon Court, Melbourne, Derby, Derbyshire, DE73 8LZ£265,000£258,000-£7,00017 Feb 202324 Nov 2023280 Days
2 Melton Avenue, Melbourne, Derby, Derbyshire, DE73 8FP£350,000£328,000-£22,00017 May 202317 Nov 2023184 Days
20a, North Street, Melbourne, Derby, Derbyshire, DE73 8FZ£269,000£241,725-£27,27528 Sep 202217 Nov 2023415 Days
20 South Street, Melbourne, Derby, Derbyshire, DE73 8GB£229,995£228,495-£1,50017 Jun 202330 Oct 2023135 Days
6 Castle Mills, Melbourne, Derby, Derbyshire, DE73 8BF£160,000£150,000-£10,00015 Mar 202312 Oct 2023211 Days
12a, Blanch Croft, Melbourne, Derby, Derbyshire, DE73 8GG£295,000£280,000-£15,00002 Jun 202305 Oct 2023125 Days
31 Commerce Street, Melbourne, Derby, Derbyshire, DE73 8FT£224,950£215,000-£9,95006 Feb 202325 Aug 2023200 Days
3 Loake Court, Melbourne, Derby, Derbyshire, DE73 8HB£398,500£395,000-£3,50004 Feb 202323 Aug 2023200 Days
25 Woodlands Way, Melbourne, Derby, Derbyshire, DE73 8DR£330,000£330,000£0026 Dec 202221 Aug 2023238 Days
6 Blakemore Avenue, Melbourne, Derby, Derbyshire, DE73 8ED£240,000£238,000-£2,00012 Oct 202231 Jul 2023292 Days
39 Victoria Street, Melbourne, Derby, Derbyshire, DE73 8FR£415,000£410,000-£5,00011 Oct 202231 Jul 2023293 Days
21 Alma Street, Melbourne, Derby, Derbyshire, DE73 8GA£500,000£485,000-£15,00026 Dec 202224 Jul 2023210 Days
42 Huntingdon Court, Melbourne, Derby, Derbyshire, DE73 8LZ£260,000£258,000-£2,00014 Feb 202305 Jun 2023111 Days
34 Acacia Drive, Melbourne, Derby, Derbyshire, DE73 8LT£365,000£340,000-£25,00028 Jun 202230 May 2023336 Days
11 Acacia Drive, Melbourne, Derby, Derbyshire, DE73 8LT£500,000£485,000-£15,00020 Jan 202322 May 2023122 Days
33 Blanch Croft, Melbourne, Derby, Derbyshire, DE73 8GG£250,000£250,000£0026 Dec 202212 May 2023137 Days
11 Queensway, Melbourne, Derby, Derbyshire, DE73 8FG£299,950£295,000-£4,95020 Sep 202221 Apr 2023213 Days

Most Expensive Streets in Melbourne

PostcodeStreetAreaAverageNo. of Sales
DE73 8ESAshby RoadMelbourne£581,00014
DE73 8BXMain StreetKings Newton£461,8754
DE73 8LDStafford CloseMelbourne£454,8577
DE73 8HENewton Wonder CourtKings Newton£452,5003
DE73 8BTTrent LaneKings Newton£446,0005
DE73 8LXSpinney HillMelbourne£427,0006
DE73 8FLDerby RoadMelbourne£423,3333
DE73 8LTAcacia DriveMelbourne£402,0009
DE73 8LWCastle MewsMelbourne£393,0005
DE73 8FQVictoria StreetMelbourne£387,4938

Least Expensive Streets in Melbourne

PostcodeStreetAreaAverageNo. of Sales
DE73 8BFCastle MillsMelbourne£164,00013
DE73 8DQThe WoodlandsMelbourne£190,7504
DE73 8FZNorth StreetMelbourne£223,77522
DE73 8DWPotter StreetMelbourne£225,3333
DE73 8HRHattons CourtMelbourne£226,3333
DE73 8DRWoodlands WayMelbourne£232,8188
DE73 8LZHuntingdon CourtMelbourne£238,1254
DE73 8EHChapel StreetMelbourne£239,2506
DE73 8GBSouth StreetMelbourne£249,92213
DE73 8DPThe WoodlandsMelbourne£255,8068

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