There continues to be many suburbs within metropolitan Melbourne fetching past the million dollar figure. Toorak continues to hold the top spot at $5,550,000. Second and third place was Flinders and Canterbury surpassing $4,110,000 and $3,361,000 respectively. Rounding up the top 5, was Brighton which was previously third in the last quarter and and Shorum both fetching $3,300,000. The majority of...
Reviewing the last quarter of 2022, the Melbourne property market continued to experience the upward trend to interest rates causing home affordability issues vut there were still a number of suburbs that increased strongly Here we focus and share the latest quarterly figures within the Melbourne property market. Top growth suburbs by median house price Here is a current list of the suburbs that have seen...
Rental Market Snapshot: The Melbourne property market has seen a huge take up in rentals. The property supply shortfall is upon us and it is likely to see potential upward pressures on property prices as the year progresses in 2023. At this stage interest rates are placing affordability issues on many buyers, so the rental market will remain hot. Regional Victoria continues to demonstrate better vacancy...
Property market forecast for 2023. In this market insight, we take the opportunity to share our perspective on what the year ahead will look like in the Melbourne/Victorian residential property market. What happened in 2022? The property market in 2022 commenced the first half strongly, with many suburbs entering the million dollar median house prices. Buying activity continued with demand heavily...
Property Market Update - December 2022. The property market has witnessed a number of big changes in the last 12 months. This has occurred for a number of reasons, but let's take a look at the numbers. According to CoreLogic, in the year ending November 2021, median property prices on a national basis increased by 22.2%. In the year ending November 2022, prices fell 3.2%. With unprecedented increases in...
Business update - from Tristan Markulija Tristan Markulija is the founder and principal property adviser at Crest Property Investments. We took the opportunity to get an update on Crest Property Investments and all things property. Q. What does Crest Property Investments offer and why is it different? We source brand new and off the plan properties for buyers. If you are a first home buyer,...
Seven-star energy rating for new homes. The Victorian Government recently announced a set of new building standard that are to take into effect from 1st October 2023 with a transition strategy to occur from 1st May 2023. These new changes will mean, new home owners will find it cheaper to heat and cool your property all year round. It is anticipated to be more comfortable to occupy, particularly against...
The Australian property market has witnessed sharp interest rate rises, but it hasn't deferred from a number of suburbs surpassing the million dollar barrier. Toorak continues to hold the top spot after decreasing significantly to $3,650,000. Second place was Hawthorn East increasing substantially from seventeenth to second. Brighton dropped from second to third place, but its important to note both Toorak...
As we approach the third quarter of 2022, the Melbourne property market witnessed some interest rate hikes that caused many suburbs to experience capital depreciation. However there were still a number of suburbs that increased. Here we focus and share the latest quarterly figures within the Melbourne property market. Top growth suburbs by median house price Here is a current list of the suburbs that have...
Rental Market Snapshot: The Melbourne property market has witnessed some high interest rate moves in the last quarter, resulting into a short fall of rental properties throughout the state. As we enter the last quarter of 2022, it will be interesting to see how vacancy rates continue. At this point, they are reducing very fast. Regional Victoria continues to demonstrate better vacancy rates, however...