Over the last three months to September 2023, the Reserve Bank of Australia (RBA) retained interest rates on hold while we witnessed a few suburbs within metropolitan Melbourne achieving double digit returns in median property prices. This was seen in both housing and unit prices. Here we focus and share the latest quarterly figures within the Melbourne property market. Top growth suburbs by median house...
As we conclude the third quarter of the calendar year, there were many suburbs recording a price tag above a million dollars.. Toorak continues to hold the top spot strongly above the rest at $5,205,556. Second and third place were Malvern and Balwyn well above the $3 million mark. Canterbury was forth and the only other suburb to go beyond the $3 million dollar mark. Malvern, Balwyn and Canterbury...
Rental Market Snapshot: The Melbourne property market continues to see a heavy supply shortfall for rental properties. Vacancy rates have further decreased as property affordability remains challenging. According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne stands at approx. 2.4% as at 30 September 2023. This has increased from...
Rental Market Snapshot: The Melbourne property market continues to see a heavy supply shortfall for rental properties. Vacancy rates have further decreased as property affordability remains challenging. According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne stands at approx. 2.1% as at 30 June 2023. This has significantly...
There continues to be many suburbs within metropolitan Melbourne fetching past the million dollar figure. Toorak continues to hold the top spot at $6,500,000. Second and third place was Brighton and Middle Park surpassing $3,205,000 and $3,030,000 respectively. Rounding up the top 5, was Balwyn and Hawthorn East both fetching $2,985,000 and $2,913,000 respectively. The majority of suburbs continue to...
After the conclusion of another quarter ending June 2023, the Reserve Bank of Australia (RBA) kept interest rates on hold for the month of June. The Melbourne property market continues to experience good levels of buying and selling with auction clearance rates at 78% for the week ending 16th June 2023. A number of suburbs in both house and units prices witnessed some excellent capital growth. Here we...
As interest rates see the first month on hold after consecutive months of increases, the Melbourne property market has seen a higher level of buying demand and property transactions. A number of suburbs in both house and units prices witness some capital growth. Here we focus and share the latest quarterly figures within the Melbourne property market. Top growth suburbs by median house price Here is a...
Rental Market Snapshot: The Melbourne property market continues to see a supply issue for rental prices. It's becoming more evident when we reflect on the vacancy rates in this market insight. As interest rates look to potentially hold it's anticipated that more buyers will enter the market to purchase their own property over renting. As a property investor, leasing your property has never been...
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...
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...