2017年 05月 25日

Melbourne Housing Market Update

The Melbourne property market also performed well over the last year growing a very respectable 15.3%.

Strong population growth (around 2% per annum) and a strong economy creating around 72,786 jobs — most of them full-time jobs — (almost half the new jobs in the country) have underpinned the Melbourne property market.

And once again the strong auction clearance rates show the underlying strength of the local market.

This will be boosted in the second half of this year as the first home buyers’ grant works its way through the market, creating an established home owner’s boost as the raft of new home buyers enter the market buying up established apartments.

Melbourne established housing stock currently sits at 4.2 months of supply for the city. Supply levels remain quite low but are at their highest levels for this time of year in five years.