Finally, the biggest downturn in Melbourne property prices since the 1980s looks to be at an end!
Melbourne’s median house price rose by 0.3 per cent in the June quarter, the first rise since December 2017. The median house price is now $818,200, which is 10 per cent below the peak reached in late 2017.
Melbourne’s median unit price increased by 2 per cent in the June quarter, the median unit price is now $501,000, which is 2 per cent below the 2018 peak.
House and unit prices are 49 per cent and 20 per cent higher than they were in 2013.
Melbourne’s most expensive areas have seen the biggest house price falls. Houses in Melbourne’s inner-east and inner-south regions have fallen 16 per cent and 13 per cent respectively over the past year, whereas house prices were unchanged in Melbourne’s west and north-west regions.
However, there are signs that prices in expensive areas are rebounding fastest. Notably, auction clearance rates in Melbourne’s most expensive regions in recent weeks are the strongest of all city regions. Melbourne’s more expensive regions tend to lead the overall market, so this is another sign that the Melbourne market may be nearing the bottom.
Other indicators also point to a turnaround. More buyers are attending open for inspections, sentiment has improved and auction clearance rates are at the highest point since November 2017.
House prices increased in Ballarat and Bendigo by 11 per cent and 5 per cent respectively over the past 12 months. House price growth has slowed in Geelong, with prices up only one per cent over the year.
So let me ask you a question, do you have the skills and knowledge to correctly identify the very best long-term capital growth areas in Melbourne right now?
Join me and 40 like-minded property investors at the next Real Estate Investing Fast Track Weekend!
REAL ESTATE INVESTING FAST TRACK
Seats are strictly limited so book NOW in order to avoid disappointment.
Here’s A Sneak Preview Of What You Will Discover By Attending The Unique 2 Day Live Event:
- The likely impact of tighter lending controls brought about by APRA and the 76 recommendations handed down by the recent banking Royal Commission, and what they mean for you.
- What you need to know about the RBA’s latest rounds of interest rate cuts resulting in an unprecedented 1% bank swap rate, and what this means to you as a property investor.
- Why now is the ‘PERFECT STORM’ for property investors and learn what you need to do NOW to make sure you collect your slice of the profits that will be made by savvy property investors in Australia.
- How to understand property cycles, state-by-state, and how to hone in, with laser-like precision, on Melbourne’s Hot Spots in 2019 and beyond.
- Learn how to identify the exact type of properties (Apartments, Townhouses or Detached Houses) you should be buying in different areas in order to maximise capital growth in the shortest period of time.
- The exact way to build, structure and automate your property portfolio, that is virtually the exact opposite of what the banks and lenders want you to do.
- Learn the exact formula that is used by all the banks to assess your borrowing capacity, this is called the DSR Ratio (Debt Serviceability Ratio) and understand the importance of buying a combination of Cash-Flow Positive Properties and Negatively Geared Growth Properties. This alone will save you years and even decades of frustration, and countless possible rejections from banks and lenders.
- The huge difference between property ‘OWNERSHIP’ and ‘CONTROL’ via the use of corporate trustees and trusts, that the rich exploit and the poor do not.
- Learn which properties to buy first, Cash-Flow Positive Properties OR Negatively Geared Growth Properties, this is essential if your plan is to continuously buy property year after year. If you get this wrong you will hit a brick wall with banks and lenders very quickly. The order that you buy them in will determine how quickly you can build your property portfolio and achieve your financial goals.
- And truckloads MORE insider secrets to catapult your property investing success.
REAL ESTATE INVESTING FAST TRACK
Seats are strictly limited so book NOW in order to avoid disappointment.
I look forward to seeing you at the event!
Yours in Success,
KONRAD BOBILAK