The quarterly trend in the Melbourne property market has been resilient, with growth easing from 4.2% over the March quarter to 1.5% over the three months ending June.
Melbourne’s annual growth rate is now the highest of any capital city, surpassing Sydney’s annual rate of growth despite easing from 15.9% three months ago, to 13.7% over the twelve months ending June 2017.
Gross rental yields are now 20 basis points lower than one year ago across the combined capital cities and tracking at a record low in Melbourne.
The Melbourne housing market is looking more resilient to a slowdown compared with Sydney, however, it’s clear that the growth conditions are starting to ease.
The quarter on quarter growth rate has fallen from 4.2 percent in March down to 1.5 percent in June.
The quarterly rise was entirely attributable to higher house values which are offset at 2.5% for the Melbourne unit values of the quarter.
On an annual basis, the pace of capital gains is now tracking at 13.7 percent.
Well, that’s lower than the 15.9 percent rate of annual growth.
Recorded over the 12 months to March, the annual rate of gains in Melbourne puts the city at the top of the table for annual capital gains across Australia’s capital cities.
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