Melbourne remains one of the strongest capital city housing markets, despite an overall slowing of conditions in the national property markets over the quarter.
The stronger housing market conditions in Melbourne are supported by auction clearance rates which have consistently remained above 70%.
In a demonstration of resilience, Melbourne dwelling values were almost 1% higher over the month and 2% higher over the September quarter.
Although the quarterly trending capital gains are more than halved from 4.4% over the three months ending November last year, Melbourne remains as one of the strongest capital city housing markets.
A rapid rate of population growth, strong jobs growth and less affordability pressures in Sydney are some of the key reasons why Melbourne dwelling values continue to trend higher.
YOU MAY ALSO BE INTERESTED IN READING:
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.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
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.