Affordable housing is hard to find these days, especially in Melbourne as well as Sydney. This is evident in the latest Mapping the Market Report of CoreLogic that looked into the changes in housing prices in capital cities over the past five years shops for sale in Islamabad.

The research found that over time, the median house prices in Melbourne continued to rise each quarter for five years. For the month of September, the median house cost increased by 1.3 percent. It is regarded as to be the lowest value in a span that spans three years.

The city of Melbourne five years ago, 27.5 percent of suburbs within the city had median home prices under $400,000. For the units, 51.7 percent had the same price band.

In June 2012, 9.5 per cent of Melbourne suburbs had median values in over $1 million. Five years later, that figure went up by 32.6 percentage of suburban areas. In contrast, 24.3 percent of Melbourne suburbs had median home values lower than $400,000 as of June 2012. By June 2017, that figure was reduced to 2.7 percent.

The latest data from September 2017 however, showed that just 2.3 percent of suburbs had the median house value less than $400,000 . This is compared to 21.2 percent for houses. At the time of October, the median home value in Melbourne was $710,420.

Median prices for residential property provide an idea of what typical properties are currently selling for or priced at. In Australia the median home value across capital cities is $650,930 as of October 2017.

The median price of a house in Melbourne increased up 0.5 per cent in October, and 1.9 percent over the course of the quarter. However, this growth is the slowest quarterly pace since mid-2016.

On the other hand, the Queensland Business Enterprise's Australian Housing Outlook 2017-2020 report revealed that the median home price in Melbourne will reach $940,000 by the year 2020. The house price growth is expected at 10.2 percent in that time. Median prices for apartments are predicted to fall in 4.8 per cent to $535,000. QBE expects housing affordability in Melbourne to improve in June 2020.

The rise in house prices can be attributed to the decreasing house supply and increase in population due to an increase in interstate as well as international migration. The small increase in household income however is making it hard for many who don't own a home yet to save large sums to put aside for their deposit.