admin-ajax.php

Melbourne Housing Market Update [Video] – August 2016

The recent fall in weekly rents has pushed capital city rental yields to a new historic low of 3.3 per cent with the Melbourne market now recording the lowest gross yield for houses at 2.8 per cent.

Melbourne house values have risen by eight percent compared with the three-point-two percent lifting unit values. 

ad_rop

The slower rate of growth in unit markets can probably be traced back to high supply levels and deteriorating confidence about the prospect of capital gains across the Melbourne unit sector.

The unit markets that show the highest risk profile tend to be both existing and new projects located in the supply epicenters of the Melbourne CBD as well as some of the CBD fringing suburbs such as docklands and south bank.

Melbourne has also seen the annual rate of growth slip back to below 10 per cent, with the July indices showing a respective 9.1 per cent and 7.5 per cent capital gain over the past twelve months.

melbhouse

Potentially, as buyers gain some leverage in the market and vendors become more flexible in their pricing expectations, this will assist in alleviating price pressures from the hottest markets such as Melbourne. melbourne victoria city urban

Melbourne clearance rates are tracking in the mid 70 per cent range.

The rate of value growth has slowed over recent months the two largest and most expensive capital cities city have continued to record relatively rapid rates of value growth.

With investment in the marketplace still a large source of mortgage demand it will be important to monitor investment appetite for housing over the coming months.

You may also be interested in reading:

National Housing Market Update [Video] – August 2016



icon-podcast-large.png

SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

icon-email-large.png

PREFER TO SUBSCRIBE VIA EMAIL?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Avatar for Property Update

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


'Melbourne Housing Market Update [Video] – August 2016' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

facebook
twitter
google
0
linkedin
0
email

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!