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Share Many in the real estate industry believe the extra charges are unfair, as Melbourne’s median house price is expected to reach $1 million by June, and economists say a $2 million property is not considered as top end as it once was. 2 Merton Place, Albert Park, Victoria 3206.  “Two million dollars is not massively expensive – it’s not at the high end of the market like it used to be,” AMP Capital chief economist Shane Oliver said. So, what does $2 million buy you in the Victorian capital, and how does it compare with properties across Australia? In Albert Park in Melbourne’s inner south, between $2 million and $2.2 million is being asked for a three-bedroom fixer-upper at 2 Merton Place.

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