Melbourne Housing Market Update [video] | March 2019

The Melbourne housing market recorded a 1% fall in values over the month, taking the annual decline to -9.1% and total decline since the market peaked to -9.6%.

CoreLogic has released their newest housing market update for March 2019.

Values are generally trending lower across all of Melbourne’s sub-regions, however detached houses are showing weaker conditions relative to units, with values down 11.5% and 3.7% respectively over the past twelve months.

Similarly, higher valued properties are showing weaker conditions than affordable properties.

Values were down 13.1% over the past twelve month across the highest value quarter of the market while the lower quartile recorded a decline of just 2.1%.

The resilience at the lower end of the market can be explained by less challenging affordability constraints and a surge in first home buyers helping to support demand across lower priced dwellings.

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If you’d like to know a bit more about how to find investment grade properties in Melbourne please give the Metropole Melbourne team a call on 1300 METROPOLE or click here and leave your details.

You may also want to watch…

PERTH HOUSING MARKET UPDATE [VIDEO] | MARCH 2019

ADELAIDE HOUSING MARKET UPDATE [VIDEO] | MARCH 2019

SYDNEY HOUSING MARKET UPDATE [VIDEO] | MARCH 2019

BRISBANE HOUSING MARKET UPDATE [VIDEO] | MARCH 2019

Metropole Property Home Buyers Enquiry

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Tim Lawless

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] | March 2019' have 2 comments

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    March 20, 2019 steve weingarth

    A good comment on Melbourne which has several markets from too many units falling in price to houses in the low-mid 500K range holding up well.As Melbourne has grown West and North new infrastucture and railway lines follow making for reasonable commutes to work with more reasonable prices than comparable areas in Sydney. The media has to stop just talking about more falls to come in housing and realise there are different markets in cities. Look at the Epping-South Morang area of Melbourne-affordable housing for example and prices not plummeting.

    Reply

    • Michael Yardney

      March 20, 2019 Michael Yardney

      Thanks for your input Steve – yes there are markets within markets

      Reply


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