The housing market in Melbourne stopped falling.
Core Logic has released their newest housing market update for March 2018.
The Melbourne housing market recorded its third consecutive month on month decline in February, however, to date, the falls have been only slight and largely confined to the more expensive end of the market.
Since peaking in October last year, Melbourne dwelling values are down by only 0.4%.
The Melbourne housing market has been less affected than Sydney by tightening credit conditions for investors, due to the fact that housing demand has been more evently spread between owner occupiers and investors.
Additionally, housing affordability is not as pressing as Sydney, with Melbourne`s median dwelling value currently 18% lover than Sydney`s.