TEN THINGS MELBOURNE

  1. Sales volumes continue to rise.
  1. Both house and attached dwellings values are rising. The median house sale value is $770,000 and the median attached dwelling sale value is $564,000

  1. House values rose 8.8% over last 12 months. Attached values rose by 5.3%.
  1. The number of houses listed for sale is falling; steady for attached stock.
  1. Resale dwelling supply is falling, dropping to about a four month supply for houses and around three months for attached dwellings.
  1. The rental vacancy rate continues to fall. It is now under 2%.
  1. Weekly rents continue to grow. The median weekly house rent is $515 and $400 per week for attached dwellings.
  1. Rents lifted by 2.7% for houses and 5.3% for attached stock over last year.
  1. Gross rental yields are now 3.3% and 3.5% respectively.
  1. Housing to buy is increasingly expensive, with a 6.7 dwelling price to household income ratio. Tenants are paying 23% of their income in rent.

Go here to get your copy of our Capital Cities Outlook Report.

The report features price, rent, population and employment forecasts for the Melbourne region.  We cover the other seven capitals cities, too.

“What a fantastic read!” Sean

Keen to hear your thoughts.

Until next time,

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Michael Matusik

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