While the overall average is much less, some individual postcode areas have dropped by around 15 - 27 or so %
Check out the cool tool on realestate.com.au
Lets look at St Kilda on it…
realestate.com.au/neighbour … 2-vic?cid=
Scroll down to the “Median property price” heading, look at the trend for the last few months - since June prices have been below 1 million and as of September 2018 the median is $865,000.
Change the chart from monthly to annual - the latest number is December 2017 - I reckon the chart must need a full year to auto expand another year which is why on the monthly we get the month just gone etc. Anyway the Median price as of December 2017 was $1,367,500
Eye watering with plenty of more room to drop. In 2013 house prices were $590,000 - which is where it dropped to (from highs of $727,750) after the last temporary drop in prices with were ramped back up by various things that just wont help this time.