Melbourne is Australia's second-largest city and Victoria's capital, known for its diverse culture, thriving economy, and strong property market. After several years of slower growth compared to other capitals, Melbourne is forecast to lead property price growth in 2026.
Melbourne Property Market 2026
KPMG forecasts Melbourne house prices to rise 6.6% and unit prices 7.1% in 2026—one of the strongest projections nationwide. The median house price is expected to reach approximately $1.17 million by year end.
After lagging Sydney, Brisbane, and Perth in recent years, Melbourne is showing renewed momentum as affordability improves relative to other capitals and infrastructure projects enhance accessibility.
Hot Suburbs to Watch in 2026
Frankston
Coastal lifestyle and Frankston Hospital redevelopment
Brimbank
Metro Tunnel improving accessibility
Pascoe Vale
Rapid gentrification, strong rental yields
Tullamarine-Broadmeadows
Airport rail link and first home buyer demand
First Home Buyers in Melbourne
Victoria offers a $10,000 First Home Owner Grant for new homes up to $750,000 in regional areas. The off-the-plan stamp duty concession has been extended until October 2026. Victorian buyers should also consider the Federal Help to Buy Scheme which opened in December 2025.
Top Melbourne Mortgage Brokers
Gregorio Caruso
Jupiter Finance
0411 195 205
Debra Carroll
Mansal Capital Finance
0423 819 214
Sarvin Hosseinzadeh
Mortgage Broker
0452 641 224
Ben Broadbent
Mortgage Broker
0404 882 982
Steph Kanga
Metropolitan Capital Finance Pty Ltd
0412 776 244
Mario Pizarro
Mortgage Broker
0419 703 703