Melbourne’s inner-city is awash with small apartments and high vacancy rates, while families and residents looking for more space are forced out of the inner- and middle-ring suburbs.

Melbourne’s apartment market has languished in the wake of Covid-19 and the substantial reduction of international migration.

Median unit prices have grown about 6 per cent during the past 12 months in Melbourne, while house prices have increased by about 12 per cent according to the Real Estate Institute of Victoria.