Melbourne's lowest rate of annual property price growth since 2012: Domain

The median house price in Melbourne decreased 1.8% over the June quarter to $882,082.

However, over the year the capital city saw a marginal price increase of 0.5%.

This represents the slowest annual rate of growth since 2012, according to Domain.

Median unit prices in Melbourne declined 0.6% over the June quarter to $496,021.

Year-on-year the city saw a growth of 0.9% — the lowest rate of annual growth since 2012. 

“While Melbourne continued to maintain annual growth, tighter lending standards, slower mortgage processing times, reduced borrowing capacity, lower investor activity and hesitation resulting from the Royal Commission have contributed to the slowdown in the city’s property market," Domain data analyst, Dr Nicola Powell said. 

“Despite units outperforming houses, Melbourne experienced the lowest growth rate in both house and unit prices since 2012,” said Powell.