Melbourne housing values have been consistently trending higher since June last year, recording a cumulative recovery of 11.2% since the market trough.
CoreLogic has released their newest housing market update for February 2020.
The upper quartile of the market has been leading the growth trend, with the most expensive quarter of housing recording an 11.5% capital gain over the past year while lower quartile values are up less than half of this amount, increasing by 5.6% over the same time frame.
Overall, Melbourne dwelling values are now only 1.2% away from reaching a new record high.
Although the pace of capital gains is slowing, it`s highly likely we will see Melbourne dwelling values staging a nominal recovery by March this year.