That's not a rhetorical question, I haven't really been following what is happening in Melbourne property circles all that closely of late.
Auction clearance rates in the Victorian capital have certainly been quite a bit softer than the equivalent readings in Sydney, but commentators too often get head faked by data as they insist on providing silly weekly capital city property price updates based upon an index which is clearly somewhat seasonal.
A plausible explanation is that the Melbourne market wasn't really booming earlier in 2014 in the first place, which is actually what some other data houses (SQM Research) and commentators (Ryder) were suggesting back in April.
In any case, Melbourne has been on an incredible run since 2007, so a slowdown or correction may be in the post.
Anyway, I just thought it was an interesting chart, but it would be unsurprising to see prices nationally steadily rising again in the coming months (click chart):