Melbourne has experienced a gradual slowing in house price growth with house values -0.4% lower over the latest quarter. Whilst there are still some areas experiencing steady growth, house values as whole are beginning to slow.
If we look at jobs statistics during the last financial year, 240,000 jobs have been created in Australia, with 80% of those being in Melbourne. This means there is still strong demand for property in the Melbourne region.
$828,720Median house price
Annual changes in dwelling value
House values have increased by almost 59% over the past five years in Melbourne and values have decreased by -0.4% over the three months to April 2018, but are 6.9% higher over the past year.
Source: abs.gov.au, Core Logic
Areas of Interest.Our area insights.
Municipality of Hume
115,000 jobs currently within Hume corridor and an extra 111,000 jobs projected by 2051 within the northern growth corridor of Melbourne
The average capital growth rate over last 10yrs is 6.5% p.a
Forecast household growth of 10,121 between 2016 and 2021 – fuelled by projected 29,000 population increase.