Rental Market Snapshot: The Melbourne property market continues to see a a further supply in rental properties, resulting in continued decreased vacancy rates. This trend has remained consistent for 12 months, particularly as interest rates has influenced more people to rent over buying their own home. According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant...
Why is property rent so high in Melbourne? There are several factors that contribute to high property rent in Melbourne. Supply and Demand: Melbourne is a rapidly growing city with a booming population. High demand for rental properties often outstrips the available supply, leading to higher rents. Limited Land Availability: Melbourne is geographically constrained, surrounded by water and green belts,...
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...
Sustainable living has been well received for many years. Many new home designs are placing much more focus on sustainable living to compliment the functionality of a home. At Crest Property Investments, we are very excited witness the evolvement of this and look forward to further change in the coming years ahead. In this market insight we share some simple tips that are very effective all year round in...
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...