Melbourne`s housing downturn has gathered some pace over recent months, with dwelling values tracking 2.4% lower over the September quarter; that`s the largest decline over the quarter for any capital city and Melbourne`s largest fall over any three month period since January 2012.
CoreLogic has released their newest housing market update for October 2018.
The weak conditions have been mostly confined to high value properties, with the top quartile of the market down 6.7% over the past twelve months, while property values across the lower quartile of the market are actually up 4.1% over the year.
More recently values have started to trend lower across all of the broad valuation bands as Melbourne`s downturn becomes more broadly based.
YOU MAY ALSO BE INTERESTED IN WATCHING:
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.