Melbourne's median house price held steady at $713,000 for the three months to 31 March.

"The moderate market will allow many more owner occupiers, including some families, strong opportunities to get a foothold on the property ladder," said REIV Chief Executive, Enzo Raimondo.

He went on to say that volumes are forecast to rise in the coming months, adding to the opportunities for buyers.

"Traditionally March is one of the strongest months for property sales with high auction volumes and listings. This year has been slower, mainly due to the consecutive Labour Day public holiday, followed by Easter and the school holidays - pushing many auctions and private sales into late April and May," he said.

During the first quarter of 2016, the suburbs with the strongest price growth were in Melbourne's outer north and west suburbs.

"Epping and Bentleigh East recorded growth of 10.8% and 9.9% respectively," said REIV President Geoff White.

"Other outer suburbs delivering high quarterly growth were Langwarrin, Doreen, Rowville and Keysborough. In fact, 12 of the top 20 suburbs were in outer Melbourne," said White.

Unit and apartment prices fell 1.8% across the city during the March quarter, to a median $525,500.

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