The Melton and Moorabool housing market showed mixed results with unit apartment living is continuing to gain traction in the Melton municipality according to latest Real Estate Institute of Victoria (REIV) data.
The December quarter median data shows prices rising for a fourth consecutive quarter across all major market segments, with unit and apartment prices outperforming houses statewide.
In Melton, houses continued to show slow but steady quarterly growth, with the median house price rising 3.2 per cent to $574,000, while units in the western suburb recorded a median price of $378,000, with a slight annual decline of 0.5 per cent.
Melton South recorded more contrasting results, with the median house price dipping 2.7 per cent over the quarter to $580,000, while units showed stronger longer-term performance.
The median unit price in Melton South reached $387,000, reflecting an annual increase of 7.5 per cent and reinforcing growing buyer interest in medium-density housing options.
REIV chief executive Toby Balazs said the latest figures reflect both renewed market confidence and a broader structural shift in housing preferences.
“Unit and apartment living is no longer a secondary option – it is a core part of Victoria’s housing mix, providing a more affordable entry point into the market,”he said.
“With constrained land and housing supply and sustained population growth, medium-density housing is an increasingly sought-after option.”
Other Melton municipality towns to have median price increases in the December quarter included Caroline Springs (six per cent), Hillside (0.5 per cent), Rockbank (4.4 per cent) and Burnside Heights (4.2 per cent)
Units across Bacchus Marsh also proved an easier feat for first-home buyers, where houses increased by 3.2 per cent to $619,000, while units were 3.8 per cent cheaper at $448,000 compared to the last quarter.
In Ballan, the median house price incresed by 7.7 per cent to $630,000.
Mr Balazs said while the improving market conditions were encouraging, addressing supply constraints and affordability would be critical to maintaining momentum.
“Effective tax reform and investment incentives will be essential in sustaining this growth,” he said.
