Melbourne treads water

By |

The Melbourne housing market has reached a stagnant point, with no growth or decline recorded for June. 

The Real Estate Institute of Victoria (REIV) released figures last week showing the median house price in Melbourne remained at $535k. 

CEO Enzo Raimondo blamed “broad economic factors” of slow population growth and low consumer confidence as contributing factors. 

“Both buyers and sellers are approaching the market in a conservative manner. This is translating into a lower number of sales than is present in a strong market and as a result, no real price growth has been recorded. 

“The real estate market moves in cycles and, after the initial price falls in 2011, it is now in a period of stability marked by low activity,” he said. 

Raimondo believes the market will remain like this for some time. 

Meanwhile, private sales in Melbourne had increased by 2.1%, while those sold at auction decreased by 2%.  

The suburbs of Balwyn and Malvern East also saw increased value and demand.

Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : westmead , toowong , new farm , freshwater , reservoir

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here