Metro Tunnel Boosts Melbourne Property Market
Update: 2025-11-29
Description
Melbournes new Metro Tunnel, set to open on November 30, 2025, is poised to revolutionize the citys property market. With five new underground stations and improved rail links, areas around these stations are experiencing increased demand from buyers and investors. Despite ongoing affordability challenges, first-home buyers in Victoria accounted for 24% of off-the-plan apartment purchases from July to September. The Four Three Seven development in South Melbourne, near the new Anzac station, is gaining attention. Median house prices in South Melbourne are around $1.752 million, while units are about $569,000, highlighting the more affordable entry point that apartments offer. The Metro Tunnel, set to operate full-time from February 1, 2026, will likely increase competition for properties near the new stations.
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