The median house price for Melbourne’s middle suburbs, those suburbs between 10 and 20 kilometres from the CBD, has jumped 4.3% for the March quarter to $1,034,000 according to new data recently released by the REIV. This is the first time middle Melbourne has exceeded the million dollar mark.

The overall Melbourne median house price has increased by 4.4% for the quarter and now stands at $855,800. This represents an annual increase of 10.9%.

The apartment median price also rose by 2.4% to $607,000 for the quarter.

Despite the quarterly increase in Melbourne’s median house price,…

Read more

 

New analysis from the Housing Industry Association confirms the strong linkages between population growth, economic performance and real estate markets.

HIA senior economist Shane Garrett says the latest ABS figures show there continues to be a strong link between population growth and economic performance, while Hotspotting managing director Terry Ryder says the local economy is the single biggest factor driving real estate markets.

ABS Demographic Statistics indicate that Australia’s population rose 1.6% over the year to the September 2017, equivalent to 395,600 additional residents.

“The strongest-performing labour markets in Australia remain those that have experienced the largest increases in…

Read more

 

December Quarter 2017 New REIV data shows the December quarter median house price in Melbourne increased for the seventh consecutive quarter, up 1.1 percent reaching a median of $821,000.

For the year house prices recorded an overall increase of 13.2 percent, the highest rate of growth since 2010.

Despite the record annual increase in the growth of house prices, the market has cooled down in the last six months of 2017 recording slower rates of growth.

Although all of Manningham’s postcodes recorded strong annual increases, most suburbs recorded negative price growth for the December quarter, reflecting the slowdown…

Read more

 

The release of the 2016 Census data contains some important insights about the future of our property markets.

Smart investors use the Census data to help them understand the types of properties that will be in demand in the future.

As our population continues to grow, so does the need for more housing. The takeaway from this for property investors who want to make good investment decisions is not to invest in just any type of housing or location.

As of December 2016, Australia’s population was recorded as 24,385,625 people. This was an increase of 372,805 people over the year.…

Read more