Melbourne Housing Market Update [Video] – October 2016

Melbourne has finished September as the best performing with an increase of +5.0%  and the lowest renal yielding market for houses, averaging 2.8%. 

Melbourne property market, recorded a 1.0% month-on-month gain, taking capital city dwelling values 41.3% higher since the growth cycle commenced in June 2012.

The top performing market was Melbourne where dwelling values pushed 5.0% higher over the third calendar quarter, due largely to a strong rise in house values (+5.2%) which balanced a softer result for the unit market (+2.9%). view from st kilda melbourne victoria state city live boat bay lifestyle

Melbourne clearance rates have consistently been above 75%, albeit on substantially lower volumes than a year ago.

The top three auction markets for spring activity have been: Inner Melbourne (780 auctions over the four weeks of September with a clearance rate of 75%), Melbourne’s Inner South (560 auctions with a clearance rate of 82%) and North Sydney/Hornsby (545 auctions with a clearance rate of 85%).

The most successful auction markets have been Sydney’s Eastern Suburbs where 89% of auctions were successful during September, Melbourne’s Mornington Peninsula (88% of auctions cleared) and Sydney’s Ryde (87% of auctions cleared).

The housing market has clearly been a substantial source of wealth creation for many Australians, particularly for home owners in Sydney and Melbourne.

Since the end of 2008, Sydney dwelling values increased by almost 95% and Melbourne dwelling values are up 80%.


By a large margin, the lowest yields are now in Sydney and Melbourne where value growth has been the most extreme and caused yields to compress.

The typical gross yield on a Sydney and Melbourne house is now 2.8%.

You may also be interested in reading:

National Housing Market Update [Video] – October 2016

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

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