Melbourne Housing Market overview

Melbourne home values have risen at the second fastest pace of all capital cities over the past 12 months.

In this, the second part of an 8 part series from Core Logic’s Quarterly Review of the Australian Residential Property Market and Economy we look at the Melbourne Housing Market.

Auction clearance rates have consistently been high and there has also been a lift in sales activity while discounting and time on market levels have fallen across the city.

key stats melbourne

Values

  • +1.9% over the quarter
  • +8.9% past 12 months
  • +4.3%pa last five years
  • +6.3%pa last ten years
  • +8.1%pa last 15 years
  • +8.0% higher than previous peak
  • +20.7% over the current growth

Phase Annual sales volumes

  • 85,791 over year to August 2014
  • +6.9% over the year
  • Sales down from a recent peak of 87,190 in May 2014

Rents

  • 0.1% quarter
  • +2.5% over the year
  • +3.0%pa last five years

Yields

  • -0.1 percentage points over the quarter
  • -0.2 percentage points over the year

Selling time

  • -4 days over the quarter
  • -5 days over the year

Vendor discounting

  • -0.5 percentage points over the quarter
  • -0.7 percentage points over the year

melbourne graph last

Read Part 1: Sydney Housing Market overview here



Want more of this type of information?


Tim Lawless

About

Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au


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