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Melbourne Housing Market Update [Video] – September 2016

Melbourne remains the lowest renal yielding market for houses, averaging 2.8%. melbourne city park happy peace victoria garden

In Melbourne, dwelling values continued to increase at more than 1% month-on-month, with the cumulative growth over the cycle (June 2012 to date) now reaching 44%.

This result highlights the differences in growth trends across the capital cities over the same time period.

In Melbourne the annual growth trend peaked at 14.2% per annum last year and has since tracked back to 9.2% per annum over the most recent twelve-month period.

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Prior to the current growth phase, affordability ratios were much lower, with Sydney and Melbourne housing market both showing a dwelling price to income ratio of 6.7.

The trend for house value growth outperforming unit values is apparent across most of the capital cities, particularly in Melbourne and Brisbane, where concerns around inner city unit oversupply are mounting.

The gross rental yield profile in Sydney and Melbourne has once again pushed to a new record low in August.

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Sydney and Melbourne have each recorded the lowest gross rental yields across the capitals for houses at 2.8%, both of which are record lows for the cities.

You may also be interested in reading:

National Housing Market Update [Video] – September 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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