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Royal

Royal

Content Editor at Justprop.com.au, Sydney

Melbourne‘s bulletproof suburbs where sellers are making bank

8Mo ago 0 Replies 161 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

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