City Beat July 2025: Melbourne values continue to trend upwards
Melbourne is continuing its bounce-back from bottoming out of the property market earlier this year.
The gains are modest, but have been continuous now for the last three months. Dwelling values, which incorporate both houses and units, rose 0.4 per cent in July, according to Cotality's latest Home Value Index.
Unit values lifted 0.4 per cent over the month, following gains of 0.3 per cent in June and 0.4 per cent in May.
On an annual basis, Melbourne unit values are still 0.8 per cent below where they stood a year ago, highlighting the lag in the apartment sector’s post-pandemic recovery.
Median unit values now sit at $621,281, while Melbourne’s house median is $952,339, a gap of over $330,000.
Melbourne’s quarterly growth of 1.2 per cent across all dwellings placed it behind most capitals, though the broader mood is lifting with rate cuts and construction confidence slowly returning to the market. Cotality notes that the supply-demand imbalance remains a key driver of price resilience, with listings well below average and annual sales slightly above trend.
What happened in Melbourne’s off the plan apartment market in July?
There were key milestones across several major developments in Melbourne over July, from new releases to construction advancements, in both Bayside and Melbourne's inner ring.
Gamuda Land topped out Fareham, its sculptural residential tower on St Kilda Road.
Markscon has completed the 16-storey structure and remains on track to deliver the entire building by early 2026.
“Topping out marks more than just structural progress - it represents our long-term vision to create sustainable, well-integrated neighbourhoods that add real value to the communities around them,” said Jess Teng, Chief Operating officer, Gamuda Land.
Fareham, one of the few new developments currently on the market in St Kilda, responds directly to its location along the iconic St Kilda Road. The project is targeting an average 8-star NatHERS rating, well above standard requirements for new apartment buildings.
Read more: Gamuda Land tops out Fareham on St Kilda Rd
In the inner north, Beulah revealed a new sustainable townhouse collection at its Brunswick Established precinct.
The collection, known as ‘The Courtyard House’, has been created in collaboration with Six Degrees Architects to meet the evolving needs of modern families.
The release comprises 15 two and three-bedroom homes centred on a communal courtyard.
With a central courtyard at its heart, the design reimagines the possibilities of multi-generational living, blending flexibility, sustainability and personalisation within a heritage setting. Distinct from a traditional garden, the courtyard delivers natural light, fresh air and a generous sense of space, without the upkeep of a backyard.
“The modern home should flow from inside to outside - the courtyard provides a space which joins the different parts of the home together as the central outside space of the home,” explains Six Degrees Director, Peter Malatt.
Brunswick Established is now 70 per cent sold.
Read more: Beulah release sustainable courtyard townhouse collection at Brunswick Established
In Melbourne's west, Spacious Property Development Group confirmed that residents will begin moving into Voyage Altona this spring, as builder Ironside pushes through final works.
Positioned within the Altona waterfront precinct, Voyage offers coastal apartments set within landscaped surrounds. Voyage is the only new apartment offering currently on the market in Altona.
The developer flagged the start of settlements as a key moment for the precinct, which forms part of a broader long-term vision for Altona’s transformation.
Prices start from just over $500,000 for one-bedroom apartments, with three-bedroom configurations topping out just over the $1 million mark.
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey
