Melbourne's one-bedroom apartments cheapest in major cities, prices flat in 10 years

One-bedroom apartments in Melbourne are the cheapest homes across Australia's major cities, with a median price of $360,000 in the March quarter. This is due to an oversupply of units, a delay in tightening minimum building standards, and buyers' preference for standalone houses. The typical Melbourne one-bedroom unit has been flat in price in the past decade, while two-bedroom units have risen 18.2% and three-bedders 35.5%.