So what can you buy for the median house price in Melbourne?

New data has proved what we already know, buying a house in Melbourne is becoming more and more expensive.

In the June quarter, the median house price increased 3.5 per cent to $668,030. 

So what does the new median get you, and where?

A bayside art deco beauty 

12A Clive Street, Brighton East

Price: $620,000–$680,000

A period character property packed with charm, this two-bedroom house is perfect for first home buyers wanting to enter the pricey bayside market.

With secure off-street parking, a considerable backyard with a garden shed, and light, bright interiors with period features, buyers can move straight in. 

A renovated family home in the east

1 Karista Avenue, Heathmont 

Price: $650,000–$710,000

Sited on a large block of more than 700 square metres, 1 Karista Avenue has been brought into the 21st century with a thoughtful renovation.

Just over a 30-minute drive to the CBD, the property has a new kitchen, with in vogue concrete benches, and bathroom. 

Sit back and relax with a book on the large deck in summer while the children play in the backyard.

Location, location, location

46/161 Sturt Street, Southbank

Price: $550,000

For those not interested in buying a house, this top-floor apartment makes the most of the city views with two balconies. 

Perfect for those downsizing, investors or first home buyers who want the city lifestyle, the two-bedroom, one-bathroom home is a short stroll from the CBD and the Botanic Gardens. 

Albert Park Lake, South Melbourne’s Clarendon Street and the bay are all also less than a 3.5-kilometre walk from the building’s front door.

A fixer-upper in a hot suburb

76 Castlemaine Street, Yarraville

Price: $660,000 plus

It may need some TLC, but this four-bedroom home has a lot to offer.

Located in the heart of the suburb, 76 Castlemaine Street is a three-minute walk from Yarraville train station and six minutes from the village.

Potential buyers could reap the rewards of a makeover and stay put, or flip the home for a profit in a few years.