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So, how did Melbourne's property market perform last month?

"The housing market continued to lose steam last month, with national dwelling values slipping half a percent, taking the overall market 3.5% below their recent peak. National dwelling values haven't fallen this much over a single year since February 2012."

The annual change in dwelling values have tracked lower across Australia's larger capital cities: 

- Sydney values declined -7.4% 
- Melbourne values are -4.7% lower
- Perth is down -3.3%
- Darwin fell by -2.9%
- Brisbane is up +0.4%
- Adelaide values have risen +1.8%
- Hobart prices increased by +9.7%
- Canberra is up +4.3%

Watch Tim Lawless's full take on the latest property market movements below. 