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The Melbourne Property Market Is Sizzling! Latest RP Data September Report Reveals…

by | Oct 8, 2019 | property

Sydney and Melbourne have continued their resurgence over September, jostling for the best performing capital.

They both saw dwelling values rise 1.7 per cent, taking Sydney’s quarter value rise to 3.5 per cent, slightly higher than Melbourne’s 3.4 per cent.

Last month both saw 1.6 per cent gains.

Index results Sept 30 2019 - Investors Prime Real Estate

The two major capital city markets are now the best performers over the quarter, dating back to July, the first month they recorded value gains after over 18 months of declines.

The bounce back in Sydney and Melbourne continues to be driven by houses which rose 1.9 per cent over September.

Melbourne’s median house price is $729,000.

Units both still cleared one per cent, with Melbourne’s units performing the stronger over the month, equalling Sydney’s 3.3 per cent gains over the quarter.

CoreLogic head of research Tim Lawless said buyers in Sydney and Melbourne still have time to take advantage of the big declines they saw over 2018.

“Although housing values are now consistently tracking higher, at least at a macro-level, the national index remains 6.8% below the October 2017 peak, indicating that buyers still have some time to take advantage of improving housing affordability before values return to record highs,” Lawless said.

House values remain 11.9% below their July 2017 peak in Sydney and 7.9% below Melbourne’s November 2017 peak.

Lawless believes that the strong rebound in Sydney and Melbourne housing markets relative to other regions, can be attributed to a variety of factors.

While all regions are benefitting from low mortgage rates and improved access to credit, economic and demographic conditions in New South Wales and Victoria continue to outperform most areas of the country.

“Population growth is higher, unemployment is lower and jobs growth is stronger, providing a solid platform for housing demand.”

Having said that, there are some 420 suburbs that make up the very complex and fragmented Melbourne property market, consisting of 8 separate independent markets, with many suburbs underperforming the average!

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 likeminded property investors at the next Real Estate Investing Fast Track Weekend!

Reserve My Seat Now

Seats are strictly limited so book NOW in order to avoid disappointment!

Real Estate Fast Track Event Day 1

Here’s a Sneak Preview of What You Will Discover By Attending This 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 ECONOMIC 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 by 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 Positives 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 continually 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…

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Yours in success,

KONRAD BOBILAK
CEO & FOUNDER
Investors Prime Real Estate