Melbourne entry-level home prices jump up to 12 per cent amid buyer squeeze

Key points

• Melbourne's lowest-priced homes have gained value faster than the rest of the market over the past 12 months, according to Real Estate Institute of Victoria data. Mornington led the rise, with its bottom quarter of sales up 12 per cent to a typical $920,000.
• Overall, the city's median house and unit prices fell 0.7 per cent in the September quarter, with steeper falls in affluent inner suburbs.
• REIV chief executive Toby Balazs linked part of the squeeze to a federal scheme offering 5 per cent deposits and landlords selling rental homes.