46% Cheaper Than a House?! Melbourne’s Hottest Property Type Revealed
Melbourne’s property market is experiencing a notable shift in buyer preferences, with townhouses and villa units emerging as the most sought-after property types. This trend is driven by a combination of affordability constraints, changing lifestyle needs, and demographic shifts.
High Demand for Townhouses and Villa Units
Townhouses and villa units are in high demand due to their affordability and suitability for various buyer segments, including first-home buyers, downsizers, and investors. These property types offer a balance between the space of detached houses and the lower maintenance of apartments.
Price Range and Affordability
The price gap between houses and units in Melbourne is significant, with a 46% difference making units and townhouses more accessible to buyers. This affordability factor is crucial, especially for first-home buyers who are entering the market.
Melbourne’s median house price at $916,763 and units at $604,574 as of March 2025, many buyers are turning to more affordable options like townhouses and villa units.