Wondering what’s going on in the Melbourne property market?
Well…it’s moved to the next phase of the property cycle, and Corelogic report that the Melbourne housing market recorded the largest property value decline of any capital city over the three months ending August 2018.
But don’t be frightened off – it’s experiencing a “soft landing.”
Here’s the Core Logic Melbourne housing market update for September 2018.
You really should read: Investing in Melbourne – 29 property investment tips
Values were down 2.0% over the rolling quarter; the weakest quarterly result since 2012.
Although Melbourne dwelling values have fallen by 3.5% since peaking late last year, most home owners have seen a substantial wealth boost with values remaining 43% higher than they were five years ago and 77% higher relative to ten years ago.
As the market continues to slow, stock levels are rising.
There are 14%, or approximately 3.900 more properties available for sale now compared with the same time last year.
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