For Perth homeowners who bought before the boom

Perth is up 98.6% in five years. Melbourne is up 1.8%. That gap is your entry price.

If you bought in Perth before 2021 you are holding growth most of the country did not get. Melbourne's median house price has barely moved in five years and now sits 12% below Perth's, and a brand new three-bedroom townhouse ten kilometres from the Melbourne CBD starts at $850,000.

Median house price, five years apart

June quarter 2021 and June quarter 2026

Perth · +98.6%

2021

$596k

2026

$1.18m

Melbourne · +1.8%

2021

$1.02m

2026

$1.04m

Domain House Price Report, median house price, June quarter 2021 and June quarter 2026. The $850k is a release price for a brand new three-bedroom townhouse, not a median. Past performance is not a guide to future performance.

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The location, floor plans and pricing, by email the same day
The published 60-point project score and the rotation case: why Melbourne sat still while Perth ran
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General advice only. No call unless you ask for one. We do not sell your details.

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Perth

wealth-builder

melbourne-10km

Five years, two cities

Perth ran. Melbourne waited.

In June 2021 a Melbourne house cost about $424,000 more than a Perth one. Five years later Perth is about $142,000 dearer. The two cities rarely move together, which is the point: the equity built in Perth's run can buy into the city that has not moved.

$1,183,108

Perth median house, June quarter 2026, up from $596,000

$1,041,205

Melbourne median house, June quarter 2026, up from $1.02m

12%

Melbourne below Perth on the median house price

Domain House Price Report, median house price, June quarter 2021 and June quarter 2026. Two points in time only; the lines do not show the path between them. Past performance is not a guide to future performance.

Why Melbourne, in four numbers

Cheapest big city. Highest yield. Reasons you can check.

$1,041,205

Melbourne median house, June quarter 2026. Perth is $1,183,108.

4.0%

Gross rental yield, highest of the four largest capitals. Perth 3.9%.

14,519

Homes completed in Victoria in the March 2026 quarter, more than any state. That is why it is cheaper.

1 July 2027

Negative gearing becomes new-build only for new purchases. This release qualifies.

Domain House Price Report, June quarter 2026; Cotality Home Value Index (yields) to 31 August 2026; ABS Building Activity, March quarter 2026; 2026-27 Federal Budget. We are not predicting a Melbourne recovery. The case is price, yield and tax treatment.

The shaded area contains the precinct; the exact location comes with your enquiry. Distance is straight line to the Melbourne GPO.

Townhouse facades with brick, timber and pitched roofs, artist's impression

Why this precinct

A new precinct, inside an established suburb. That almost never happens.

Most new precincts are built on the city fringe. This one sits inside a gazetted comprehensive development plan: 66 hectares of former industrial land 10km from the CBD, with a new town centre, parks and streets funded as part of the plan. We name it when you enquire.

New amenity, inside a suburb where the schools, shops and freeway are already there. That is the combination a tenant pays for and an investor rarely gets at a new-build price.

New town centre10,000m2 retail, service and office

8.9ha of new parksOpen space across the precinct

1,000+ local jobsRetail, service and office

Schools already hereThree within the suburb

Freeway at the doorNew tunnel to the CBD, open since Dec 2025

10km to the CBDStraight line, west of the city

66ha

Master-planned precinct, 10km from the CBD

~3,000

New homes planned across the precinct

8.9ha

New parks and open space

$55.1m

Developer-funded transport and community infrastructure

Comprehensive development plan, Victorian Planning Authority. Figures are plan targets for the whole precinct, not for this release alone.

Why Oli Property

Research first. Property second.

Oli Property is part of the Oliver Hume Property Group, which has sold Australian residential property since 1954 and helped over 290,000 Australians buy and invest in new property.

Our research, led by Chief Economist Matt Bell, covers 4,800 suburbs and is relied on by government and ASX 200 companies. Every property we put in front of a client has been through our 60 data point review process first.

We have no reason to push you toward one outcome over another, which is why we run the numbers against our 60 data point review process, across 4,800 suburbs. If this project does not suit your position, we will tell you, and we will tell you why.

1954

Oliver Hume Property Group founded

290,000+

Australians helped to buy and invest in new property

4,800

Suburbs covered by our research

60+

Data points in every property review

One page, one offer

Find out where it is.

The location, floor plans, pricing, the 60-point project score and the rotation case, sent to you the same day. If you would rather talk first, Cam or Adam will call at a time you pick.

Cameron Yates and Adam Duster, Property Investment Specialists

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About the figures on this page

Median house prices are from the Domain House Price Report, June quarter 2021 and June quarter 2026. Rental yields are Cotality Home Value Index to 31 August 2026. The $850,000 is a release price for a three-bedroom townhouse, not a median, and is subject to written confirmation. Distances are straight line.

General advice disclaimer

The information on this page has been prepared as a general guide only and does not constitute advice. It has been prepared without taking account of your objectives, financial situation or needs. Before acting on any information you should consider its appropriateness having regard to your own objectives, financial situation and needs, and seek independent advice from a qualified professional. Any forward looking statements are estimates only, are affected by a significant number of unpredictable factors, and there are no guarantees they will be achieved. Property markets perform at different rates and past performance is not an indicator of future performance. Taxation outcomes depend on individual circumstances and you should speak with a qualified accountant.

Mortgage brokerage is provided by MyFirstLoan.au Pty Ltd ACN 168 808 946, Australian credit representative number 564038 of Allied Financial Consulting Pty Limited ACN 059 732 419, ACL 393845. Loans are structured and managed by Homestar Finance, ACL 390860.

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