: Suburbs like Sunshine , Footscray , Cranbourne , and Pakenham are major winners following the Metro Tunnel becoming fully operational in February 2026.
The city is currently split into distinct zones, each offering different value propositions for 2026: where to buy house in melbourne
: Preston and Reservoir are standouts for buyers seeking a balance of inner-north culture and more accessible price points ( Preston median ~$1M). : Suburbs like Sunshine , Footscray , Cranbourne
Melbourne ’s property market in 2026 is currently viewed as an with house prices roughly 30-41% cheaper than Sydney’s . Experts from KPMG and Domain forecast a growth cycle starting this year, with house prices expected to rise by 6.6-6.8% and units by 7.1-7.3% . Market Overview & Strategic Picks Experts from KPMG and Domain forecast a growth
: Toorak , Canterbury , and Balwyn remain the "gold standard" for long-term equity, though entry prices range from $2.95M to $4.5M. Best Suburbs by Category