Melbourne Housing Market Update [Video] – April 2017

In Melbourne, house values were 17.2% higher over the past twelve months compared with a 5.2% increase across the unit sector.

Melbourne’s property market has continued to produce high levels of capital gains for investors.

core4

Dwelling values have surged by 15.9% over the past twelve months, mostly during by the strong conditions in detached housing where values are 17.2% higher over the past twelve months compared with a much lower 5.2% gain in unit values.

The gross yield on a Melbourne dwelling is now 2.8%.

While some rental markets have recently seen a rise in the pace of rental growth, generally, the trend in rental appreciation remained soft in comparison with the rate of capital gains; growth in dwelling values is substantially outpacing rental growth in Sydney and Melbourne and gross rental yields have again slipped to record lows in these cities. melbourne victoria

Despite the high capital gains, Melbourne dwelling prices remained about $200,000 or 25% lower than Sydney’s based on median prices.

Homes are selling in approximately 30 days across Sydney and Melbourne, while discounting rates are well below 5.0% in these markets as well.

YOU MAY ALSO BE INTERESTED IN READING:

Perth Housing Market Update [Video] – April 2017

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s