Toggle Menu Header

Royal

Royal

Content Editor at Justprop.com.au, Sydney

Melbourne‘s bulletproof suburbs where sellers are making bank

25D ago 0 Replies 42 Views
Peace of mind is essentially assured for homeowners in the Macedon Ranges, Moorabool, Melton and Wyndham, with new research identifying the fringe regions as Melbourne’s most bulletproof markets.

Not one seller lost a cent on a house or unit deal in a region on Melbourne’s fringe for most of last year, and vendors in several other areas also made stellar profits. See our bulletproof suburbs.

This was the case for the previous two quarters as well.
Vendors in Moorabool, Melton and Wyndham enjoyed almost flawless profitmaking rates above 98 per cent in the September quarter, and those in Casey, the Mornington Peninsula, Frankston, Cardinia, Banyule and Hobsons Bay, above 97 per cent.

Across greater Melbourne, 93 per cent of homes sold in the period for more than their owners originally paid.
This was up from 92.2 per cent in the previous quarter, but down from 95.2 per cent a year prior.

Sellers in the Casey region remarkably earned the biggest total profit by value in the September quarter: a combined $621.23 million. Those in blue-chip Boroondara made the highest median profit of $571,500 per sale.

A “weak performance of unit resales” made the CBD Melbourne’s least profitable market. Almost 33 per cent of homes sold for less than the vendors paid for them, equating to a total loss of $69.85 million.

Citywide, CoreLogic found Melbourne houses had a higher profitmaking rate that units, at 96.6 per cent versus 85 per cent.

BULLETPROOF SUBURBS

Macedon Ranges: 100% of sales made a profit / $380,000 median profit / $71.55m total value of profit.
Moorabool: 98.9% / $219,500 / $54.1m
Melton: 98.3% / $225,000 / $267.33m
Wyndham: 98.2% / $291,450 / $456.89m
Casey: 97.4% / $288,500 / $621.23m
Mornington Peninsula: 97.4% / $321,000 / $597.86m
Frankston: 97.4% / $244,000 / $327.43m
Cardinia: 97.4% / $235,000 / $218.33m
Banyule: 97.3% / $393,500 / $253.65m
Hobsons Bay: 97% / $282,000 / $189.98m

Source:


Top Posters Last 30 days

1 Joshua
2 Royal
3 InvestAus

Related Posts

VIC: Melbourne's hot growing suburbs for the buyers to target

A gentrifying inner-city hub and a quiet "forgotten pocket" of the north are among the Melbourne suburbs set to soar in value, one of Australia's top real estate agents says. Renowned agent John McGrath released his 2019 annual report on Wednesday and named Kensington in Melbourne's inner north-west as one of the hottest suburbs for buyers to target. These five suburbs are at the top of his list.KensingtonWatsoniaUpweyCarnegie andCheltenham Read more:x Top five Melbourne suburbs for buyers: Famous agen... Top real estate agent John McGrath has named the city's growth hot spots. Is your suburb on the list? 7news.com.au
Justprop Editor
Justprop Editor
8D ago 17 Views

VIC: Most in demand suburbs of Melbourne

Melbourne suburbs have dominated a national hot spots list for upsizers, as families continue to flock to the east to settle down. The data, based on views per listing for homes with four bedrooms or more, ranked Sydney’s Baulkham Hills in first place. It was the only non-Melbourne suburb named. The next 9 in the list are:2. Hawthorn East3. Blackburn4. Malvern5. Glen Iris6. Vermont South7. Camberwell8. Malvern East9. Eltham10. Northcote Details inside: x Most in-demand suburbs: Melbourne’s east dominat... Australia’s most in-demand suburbs for upsizers have been revealed — showing there’s big appeal for families in Melbourne’s eastern ‘burbs, which dominate the national top 10. www.realestate.com.au
Joshua
Joshua
12D ago 29 Views

VIC: Melbourne is turning out to be highly unaffordable property market

MELBOURNE’S working class is facing some of the biggest home-buying hurdles worldwide, with the city once again ranking among the globe’s most unaffordable property markets. Victoria’s capital has been named the world’s fourth-least affordable city in the latest Demographia International Housing Affordability Survey. Further analysis by comparison website Finder reveals a Melbourne household earning a typical $88,700 annual income would need 9.5 years to save a 20 per cent deposit for a median-priced $843,000 house. Read more:x Average of 9.5 years to save a house deposit for M... Melbourne’s working class is facing some of the biggest home-buying hurdles worldwide, with the city once again ranked one of the globe’s most unaffordable property markets. Take a look at how lon... www.realestate.com.au
Steve
Steve
16D ago 31 Views

Melbourne west - a great combination of affordability and market potential

Melbourne west is popular amongst the buyers if you are looking for a combination of affordability, lifestyle, land and home size, and market potential. If you are looking for an affordable entry point into the property market but don’t want to sacrifice on proximity to the city nor potential for capital gains growth, here are five suburbs in Melbourne’s west to keep an eye out on: Hoppers CrossingPoint CookAltona NorthTarneit Werribee Details inside: x Where to get the most bang for your buck in Melbou... Buyers have for a long time known that Melbourne’s west offers that magic combination of affordability, lifestyle, land and home size, and market potential. Of course, this has seen a gradual cre... www.realestateview.com.au
Justprop Editor
Justprop Editor
16D ago 25 Views

Where first-home buyers should look this year in Melbourne

Melbourne suburbs where first-home buyers should look in 2020.The only way is up for Melbourne real estate this year, according to property pundits. This is where experts say first-timers should look in the north, south, east and western suburbs this year. So we asked experts and agents across the city for their tips on where to buy. FIRST HOME: less than $750,000 NORTH Craigieburn: First-home buyers would find both houses ($540,000 median) and units ($379,900) achievable in this “growing suburb with reliable transport”. Coburg North/Pascoe Vale: Access to Merri Creek, decent-sized blocks and an affordable $631,000 unit median ensured Coburg North’s appeal, Nelson Alexander Coburg partner Steven Shaw said. Pascoe Vale ($625,000) was also a good bet. Donnybrook/Kalkallo: These fringe suburbs were well connected via the Hume Freeway and Donnybrook train station, and serviced by Epping Plaza and Craigieburn Central, KR Peters director Peter Nicolls said. Donnybrook is flush with new housing and land estates, while Kalkallo has a $580,000 house median. Flemington/Kensington/Travancore: Easy access to the city, “plenty of shops, restaurants and cafes”, and Flemington Racecourse were among this trio’s selling points, Ms Calnan said. Their unit markets offered affordable medians ranging from $355,000 to $583,750. Oak Park: Brad Teal Real Estate director Brad Teal said Oak Park ($612,000 unit median) offered “good land sizes, a bike track into the city, a good choice of primary schools, a train station and freeway access”. Units in boutique ‘70s and ‘80s blocks made ideal entry points. SOUTH Cranbourne West: This southeastern suburb had “access to several schools, Sandhurst Shopping Centre, and Merinda Park and Cranbourne train stations”, Ms Calnan said. The median house price is an affordable $565,000. Clyde North: Mr Nicolls said “value for money” was at a premium in this suburb, with first-home buyers able to secure 460sq m house and land packages from $560,000. “With myriad amenities already nearby, easy access to major roadways and new schools and parks, this suburb will only continue to thrive,” he said. Dandenong: “Great views, plenty of shops and two train lines” should put Dandenong on first-timers’ radars, according to Ms Calnan. It also offers affordable homes, at a $634,000 median for houses and $285,000 for units. Frankston North: A more affordable option ($430,000 house median) than neighbouring Frankston, this suburb offers similar lifestyle perks. “It’s close to the sea and still close to the train line,” Ms Calnan said. Windsor: First-home buyers who score units or apartments ($487,500 median) in this inner suburb will benefit from being close to the CBD. EAST Bayswater/Bayswater North: Affordable median unit prices of $650,000 and $514,995 respectively were on offer in these suburbs with a “plethora of shops and access to EastLink”, Ms Calnan said. Boronia: Buyers can choose from a “mix of townhouses, apartments and established homes” in this outer suburb, according to Mr Nicolls. It had been boosted by the train station’s “major rejuvenation”, but homes remained affordable, with medians of $730,000 for houses and $591,000 for units. Bulleen: Bordering prestige Balwyn North and Ivanhoe ensured Bulleen had stellar growth potential, Barry Plant Doncaster East’s Spiro Drossos said, but its unit market remained affordable ($550,000 median). Hawthorn: This suburb oozed lifestyle perks, Ms Calnan said, being home to “many bars, restaurants, cafes and shops”. Its unit market is achievable for first timers, with a $600,000 median. Yarra Junction: For those who don’t mind a longer commute, Yarra Junction is an “affordable country community with beautiful landscapes, 55km from the CBD”, according to Ms Calnan. A median-priced house will set you back $582,340. WEST Maribyrnong: Access to the Maribyrnong River, and an easy commute to the CBD, are highlights of this inner northwest postcode, according to Ms Calnan. A typical unit there costs $530,000. Melton: This outer suburb’s $377,500 house median is among Melbourne’s cheapest. But Ms Calnan also highlighted Melton’s shopping centre, larger block sizes, and the fact it offered “a beautiful country lifestyle on its back step”. Spotswood: The “first suburb off the ramp leaving the CBD on the West Gate Bridge” offered absolute convenience and a “mix of Edwardian and Californian bungalow homes,” Mr Teal said. Werribee/Wyndham Vale: Affordability was No. 1 in these suburbs, Ms Calnan said, with a median-priced house worth $510,000 in Werribee and $472,000 in Wyndham Vale. Both are connected to Melbourne and Geelong via train. West Footscray: The unit market offers a handy entry point, with a $533,750 median, while the suburb boasts “easy access to the city and a growing economic hub”, according to Ms Calnan. Neighbouring Footscray and Kingsville are also good bets. source:www.realestate.com.au
Royal
Royal
23D ago 37 Views

VIC: Melbourne property market sets a new high record

Melbourne property prices have reached a record high, with metropolitan house values surpassing $850,000 for the first time. The result comes after two consecutive quarters with growth of more than three per cent each, the Real Estate Institute of Victoria (REIV) reported. December 2019 quarterly data revealed a 3.7 per cent increase in Melbourne house prices and 3.8 per cent growth for units – for the first time Melbourne unit values surpassed $630,000. Details inside:x Melbourne property prices set record high after co... Melbourne property prices have reached a record high, with metropolitan house values surpassing $850,000 fo... www.9news.com.au
Sam2018
Sam2018
29D ago 35 Views
63 online
Arvind Suresh
Vijeshkhanna1
Tamanna
Pankaj
Manish Desai
and more ...