Melbourne Housing Market Update [Video] – May 2016

Melbourne houses recorded the lowest rental yields this month, with gross rental yields of 2.9% and units at 4.0%.

The results show value growth moved at a faster pace compared with the final three months of 2015 when capital city dwelling values slid 1.4 per cent lower off the back of weaker market conditions in Melbourne.

CoreMelb

Melbourne’s housing market continues to show a level of resilience to a slowing trend, however the annual growth rate has fallen from a recent peak of 14.2 per cent to the current annual growth rate of 10.1 per cent.

Melbourne was the only capital city to see double digit growth over the past twelve months.

Over the current growth cycle, which commenced broadly in June 2012, capital city dwelling values have moved 34.4 per cent higher, with a 37.1 percent lift in Melbourne values.

Melbourne house values are 10.8 per cent higher over the past twelve months compared with a 4.7 per cent rise in unit values.

This growth differential can likely be explained by the higher supply levels of units in the inner city markets of Melbourne.

The results show value growth moved at a faster pace compared with the final three months of 2015 when capital city dwelling values slid 1.4 per cent lower off the back of weaker market conditions in Sydney and Melbourne.

You may also be interested in reading:

National Housing Market Update [Video] – May 2016



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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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