Victorian Premier LOSES IT After Eastern Melbourne Home Prices PLUMMET!

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Eastern Melbourne's property market experienced some of Victoria's steepest price declines in 2024, with unit prices in premium suburbs like Templestowe dropping 22% and Canterbury falling 21.5% from peak values. This comprehensive analysis examines verified data from CoreLogic, PropTrack, and REIV showing house price corrections up to 12% in Hawthorn, 17% peak-to-current decline in Bayswater, and Melbourne overall sitting 21% below its March 2022 peak—the lowest level since September 2020.
We break down the complete Eastern Melbourne real estate correction including:

Premium unit market declines (Templestowe -21.7%, Canterbury -21.5%, Hawthorn East -18.1%)
House price reductions across suburbs (Doncaster -9.3%, Balwyn -5.8%, Wantirna -5.4%)
Auction clearance rates hitting 2-year lows at 56.7% in September 2024
Days on market surging 32.4% in Ringwood to 45 days
Melbourne inventory reaching 37,873 listings in January 2025 (up 15.9% YoY)
Transaction volume declines and subdued demand across the region
This detailed real estate market analysis covers the Eastern Melbourne property correction through December 2024 and January 2025, examining what falling prices, rising inventory, and extended selling times mean for buyers, sellers, and investors in suburbs including Hawthorn, Doncaster, Balwyn, Kew, Canterbury, Templestowe, Ringwood, Croydon, Glen Waverley, and Bayswater.

VERIFIED SOURCES & DATA:

Real Estate Institute of Victoria Q4 2024 Report: https://www.reiv.com.au/market-insights
Urban Property Australia Melbourne Analysis: https://upaustralia.com.au/research/q...
PropTrack Market Data: https://www.proptrack.com.au/
PropertyValue Suburb Statistics: https://www.propertyvalue.com.au/
SQM Research Inventory Figures: https://sqmresearch.com.au/
MacroBusiness Auction Analysis: https://www.macrobusiness.com.au/2024...
Victorian Valuer-General Sales Data: https://www.land.vic.gov.au/valuations
Simply Wealth Group Auction Results: https://simplywealthgroup.com.au/auct...
Woodards Real Estate Market Data: https://www.woodards.com.au/
Eastern Melburnian Housing Analysis: https://www.easternmelburnian.com.au/...

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Disclaimer:
We’re real estate enthusiasts—not licensed agents, appraisers, or financial advisors. All content is based on publicly available data, market observations, and personal opinions, and is shared for entertainment and general information only. Accuracy isn’t guaranteed. Always consult a qualified real estate professional, attorney, or financial advisor before making any property, investment, or relocation decisions.This video provides fact-based analysis without political bias—just economics, data, and real-world impact on families, developers, and the construction industry.