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Good news for many homeowners (though not those still looking to buy) in Melbourne: house prices in some areas rose more than 25 per cent in 2025. According to the latest Domain House Price Report, the median house price across the city rose 6.2 per cent from September 2024 to September 2025.
Domain’s chief of research and economics, Dr Nicola Powell, said interest rate cuts and government support for first-home buyers – mainly the 5% Deposit Scheme – are behind Melbourne’s house price jump, helping to create a sense of urgency among buyers.
Among the Melbourne suburbs where house prices grew the most, Heidelberg topped the list, up 25.9 per cent to a median price of $1,386,000. Just 11 kilometres northeast of the CBD, this historically significant suburb is home to the Heide Museum of Modern Art, Austin Hospital and café-and-boutique-lined Burgundy Street, making it a peaceful yet culturally rich place to live.
Box Hill, 14 kilometres east of the CBD, had a higher median house price of $1.6 million, but a lower annual change of 20.7 per cent. The area’s known for its authentic Asian food scene, Box Hill Central shopping complex and art gallery Whitehorse Artspace.
The suburb of Oak Park came next, recording an 18.2 per cent annual growth and a home median price of $910,000, followed by the inner-eastern suburb of Mont Albert, which grew 16.5 per cent and had the highest median house price among the areas listed: $2,387,500. Many of Mont Albert’s properties are period homes, mostly in Victorian and Edwardian styles, featuring ornate details and manicured gardens, and set on wide streets.
Fairfield, Canterbury and Carlton North also made the list of Melbourne home price jumps, as did Lynbrook, Niddrie and Carrum. Interestingly, Dr Powell pointed out that though the postcodes on the list were a mix, the relatively affordable suburbs appeared to be leading price growth, rather than the prestige postcodes.
Thankfully for non-owners, Melbourne’s home price growth was nothing compared to Brisbane and Perth’s, which rose ten per cent during that same period. Meanwhile, Darwin’s median house price grew 7.3 per cent, Hobart’s grew eight per cent and Canberra stayed relatively steady, rising only 2.7 per cent.
The Melbourne suburbs where prices grew the most in 2025:
- Heidelberg: 25.9 per cent
- Box Hill: 20.7 per cent
- Oak Park: 18.2 per cent
- Mont Albert: 16.5 per cent
- Fairfield: 16.4 per cent
- Canterbury: 15.6 per cent
- Carlton North: 12.4 per cent
- Lynbrook: 12.3 per cent
- Niddrie: 11.8 per cent
- Carrum: 11.5 per cent