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Melbourne Housing Market Update [Video] – June 2016

The Melbourne housing market finished the month as having the lowest rental yield in houses. with a gross rental yields of 2.9%.

Melbourne’s housing market is still recording the highest annual rate of capital gain at 13.9%.

The largest capital gains over the cycle to date have been in Sydney where dwelling values are 57.5% higher followed by Melbourne with a 39.4% capital gain since values started rising. 

A rise of more than 1% month-on-month was also recorded in Melbourne. (1.6%)

Auction clearance rates across the combined capital cities have remained stable and hovered around the high 60% to low 70% range since February this year.

Melbourne clearance rates now sit in the early 70% range.

The March data shows investors now comprise of 47.6% of all new mortgage commitments which is the highest proportional reading since August last year.

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The effect of strong capital gains with little rental movement is a further compression of gross rental yields which fell to a new record low during May.

You may also be interested in reading:

National Housing Market Update [Video] – June 2016



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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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