Are you wondering what will happen to the Melbourne property market in 2024? Clearly, the Melbourne housing market has not performed as strongly as some other capitals over the last year, but Melbourne’s property values are expected to gain ground as we move through 2024. Melbourne home prices lifted 0.1% in February, bringing them up…
Search for: melbourne property market
Here’s a short update on the Melbourne housing market so far this year. The Melbourne economy has undoubtedly been the most impacted by COVID-19 in Australia, both because of the second major outbreak in case numbers through the September quarter, and because international migration has been a key component of population growth across the state,…
It’s an irony that Melbourne, which has won the mantle of the world’s “most liveable city” more times than any other city in the last decade, will remain in Stage 4 lockdown for virtually 3 months. Last weekend Premier Daniel Andrew extended the original 6 week lockdown, extending the ban on inspections of properties for…
After falling more than 11% in 2018-19 the Melbourne property market has made the strongest recovery in modern history. In a recent housing update, Westpac gave the following summary plus forecasts for the Melbourne real estate market… Victoria’s price recovery has gained strong momentum with increases running at a double digit annual pace over the…
Boy has our property markets had a lot to contend with so far this year. A pandemic, floods, Geopolitical problems, rising interest rates and a federal election just to name a few. While up to now the capital city housing markets have held their own, the latest data from My Housing Market reveals that Sydney…
Over the past 12 months, CoreLogic’s Home Value Index has risen 8.9%, adding the equivalent of approximately $63,000 to the national median dwelling value ($765,762) and taking the index to a new all-time high in February. A recent suburb-level analysis found that 88.4% (4,087) of the 4,625 house and unit markets analysed nationally saw values…
Want to know what’s happening to the housing markets around Australia? Well… this monthly collection of charts from CoreLogic paints an interesting picture. After outperforming through much of 2023, upper quartile home values are now recording a slower quarterly rate of appreciation compared to the broad middle and lower quartiles, CoreLogic’s March Housing Chart Pack…
What’s the outlook for the Australian property markets for the rest of 2024? Have interest rates really peaked now and when will they start coming down or will the RBA raise rates again in 2024? Will the “fixed interest rate cliff” and affordability issues cause a round of distressed sales and prices to fall or…
There was great news on the jobs front recently- Australia’s unemployment rate plunged to a new low of 3.7% in February, but this has raised the question of how well those 13 interest rate rises have worked to slow down the economy and kill inflation. This unexpectedly strong jobs market data has cast doubt on…
With property values rising and “re-accelerating” in all major capital cities according to market analysts CoreLogic, and with talk of interest rate cuts on the horizon, the Australian property market is gearing up for strong market this year. Australia’s housing is so horribly undersupplied that I’ve rarely encountered a supply-demand inflection point like this. The…