Quarterly results highlight Victoria’s housing comeback
The Real Estate Institute of Victoria’s latest data indicates Victoria’s housing market is bouncing back. Lower interest rates and rise in loan approvals have contributed in significant growth for the real estate sector as properties are being snapped up more quickly.
A springtime boost is helping to restore the property market with house prices up by 4.5% for metropolitan Melbourne, highest quarterly result since March 2017 quarter, while units have grown by 3.9%.
The growth was shared across the board with unit prices in regional Victoria increasing by a massive 7.1% over the quarter.
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Disclaimer – The REIV is the most authoritative source for information about the Victorian rental market with historical vacancy rates from October 2002. The REIV, on a monthly basis, collect current vacancy rates and rental data from Members and view.com.au leases.
