The Melbourne housing market recorded the largest property value decline of any capital city over the three months ending August.
Core Logic has released their newest housing market update for September 2018.
Values were down 2.0% over the rolling quarter; the weakest quarterly result since 2012.
Although Melbourne dwelling values have fallen by 3.5% since peaking late last year, most home owners have seen a substantial wealth boost with values remaining 43% higher than they were five years ago and 77% higher relative to ten years ago.
As the market continues to slow, stock levels are rising.
There are 14%, or approximately 3.900 more properties available for sale now compared with the same time last year.