AdvertisementThis price discrepancy has made Melbourne housing relatively good value and affordable. AdvertisementThe weekend’s preliminary clearance rate of 60.8% broke the 60% mark for the first time since the week ending May 24th 2026. AdvertisementTherefore, from a valuation perspective alone, Melbourne housing appears the most likely to stage a rebound. Thus, Melbourne does appear the most primed for a housing rebound, although it likely won’t arrive until next year, after the election. AdvertisementIn the meantime, those looking to purchase in Melbourne can make lowball offers, knowing that values are likely to rebound soon, unlike some of the other major capitals.