Rental Market Snapshot: The Melbourne property market has seen a huge decrease in vacancy rates since the Reserve Bank of Australia (RBA) increased interest rates for three consecutive months. There are economical opinions that there may be some more movement in interest rates as we approach the end of 2022. This has influenced vacancy rates to decrease significantly however Rental yields have remained...
Property values doubled in the last seven years. Back in June 2014, the combined value of all the residential properties in Australia was valued at $5.1 trillion. That figure has now amassed to exceed the $10.0 trillion mark for the first time. According to the latest data from the Australian Bureau of Statistics (ABS), as of March 2022, the combined value of all the residential properties in Australia...
As we pass the first quarter on 2022, The Melbourne property market saw a number of suburbs perform exceedingly well. 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 some extraordinary capital appreciated from 1st January 2022 to 31st March 2022 (3 mth period): Note:...
The Melbourne property market has many popular suburbs. Many part of the million dollar club. Toorak has held top spot for some time, but in the last quarter Portsea took top spot with a house median price of $4,125,000. Second place was Malvern with $3,845,000 and Brighton taking third place with $3,500,000 (Portsea and Brighton had less than 30 sales transacted in the last three months). Rounding up the...
Rental Market Snapshot: The Melbourne property market has shown good signs of consistency in both vacancy rates and higher yields. As rental demand continues to increase, these figures are expected to improve as the year 2022 unfolds. Regional Victoria continues to demonstrate better vacancy rates, while the rental income is also increasing at a higher rate in comparison to metropolitan...
The Melbourne property market has finished the year with some amazing results. A historical year throughout the country. 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 some extraordinary capital appreciated from September 2021 to December 2021 (3 mth period): Note: Only...
Rental Market Snapshot: The Melbourne property market continues to improve in both vacancy rates and higher yields. The demand continuous to outstripping supply, which is expected into the new year. Regional Victoria continues to demonstrate better vacancy rates to Metropolitan Melbourne, however median rental prices in Melbourne is starting to increase. According to the The Real Estate Institute of...
The Melbourne property market has seen a number of new suburbs join the million dollar club while a few dropped out. Toorak remains in the top spot with a median house price of $4,585,000, while East Melbourne jumped into second place with $4,333,000 and Portsea taking third place with $3,840,000 (however Portsea had less than 30 sales were transacted in the last three months). Rounding up the top 5, was...
Latest life expectancy is up. The latest figures released from the Australian Bureau of Statistics (ABS) shows that a baby boy and girl are expected to live to 81.2 years and 85.3 years. ABS demography director Beidar Cho said these new figures demonstrate that new born babies have the highest estimated life expectancy ever recorded in Australia. Life expectancy for males has improved at a faster rate...
Property market forecast for 2022. 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. We continue to see optimism into 2022 and beyond. What happened in 2021? The property market in 2021 saw some very good returns, well above the average capital appreciation. The property market not only...