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Melbourne, VIC 3000 Review

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Royal

Royal

Melbourne
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 / $54.1mMelton: 98.3% / $225,000 / $267.33mWyndham: 98.2% / $291,450 / $456.89mCasey: 97.4% / $288,500 / $621.23mMornington Peninsula: 97.4% / $321,000 / $597.86mFrankston: 97.4% / $244,000 / $327.43mCardinia: 97.4% / $235,000 / $218.33mBanyule: 97.3% / $393,500 / $253.65mHobsons Bay: 97% / $282,000 / $189.98m Source:x Bulletproof suburbs where sellers are making bank 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. www.news.com.au
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InvestAus

InvestAus

Melbourne
Melbourne, along with Sydney, emerged as 2019’s big winner in terms of property market performance after it has witnessed one of the fastest recovery cycles this year. Will the Victorian capital fare just as well in 2020? CoreLogic’s head of research Tim Lawless noted that Australia saw housing values bouncing back rapidly over the second half of the year, led by Sydney and Melbourne where values are around 9.5 per cent higher since finding a floor in May. The premium value suburbs of Melbourne and Sydney, in particular, were the biggest winners of the year. “In fact, amongst the top 10 best-performing suburbs for growth, seven were located in Sydney or Melbourne and show a median value of at least $1.1 million,” Mr Lawless highlighted. Moving forward into 2020, property markets are likely to remain in “recovery mode” as prices catch up and eventually overtake previous record highs. However, the rapid increase in capital gains may lose steam as stock levels rise, affordability declines and the labour market weakens. Still, the pace of growth will remain positive, albeit slow. Building approval may also trend higher as housing demand rises, with lower interest rates, first home buyers and property investors supporting housing demand. Details inside:x Property market update: Melbourne, December 2019 Melbourne, along with Sydney, emerged as 2019’s big winner in terms of property market performance after it has witnessed one of the fastest recovery cycles this year. Will the Victorian capital far... www.smartpropertyinvestment.com.au
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