Melbourne dwelling values were down 1% in November, taking the cumulative decline to 5.8% since the market peaked one year ago.
Core Logic has released their newest housing market update for December 2018.
The decline in dwelling values is concentrated across the most expensive end of the market, with dwelling values down 9.9% over the past twelve month across the top quartile of the market, while the most affordable quarter of the market has actually seen values post a rise of 1.7%.
A similar trend can be seen across the sub-regions comprising Melbourne.
The prestigious Inner East of the city has seen value drop 11.9% over the past twelve months while the slightest falls have been in the West and along the Mornington Peninsula.