Inner glow for sellers
values fell 0.5 per cent for the quarter on the back of a 3.5 per cent drop in November.
The median dwelling price in Melbourne was $602,500.
CoreLogic head of research Tim Lawless said it was a warning for off-the-plan purchasers as a large number of new dwellings commence construction.
“Those purchasers may face challenges at settlement if the valuation of the property is lower than the contracted price,” he said.