Melbourne Hotspots 1st Half 2017
The PRD Melbourne hotspots report analyses all suburbs within the Greater Melbourne region. It provides valuable insight and highlights for the market, reporting on a number of key indicators to create a holistic picture of the property conditions in 2017. This report focuses on suburbs within a 20km radius of the CBD, taking into consideration the following factors:
- Sales indicators - the number of sales
transactions (suburbs with less than 20 sales are excluded in affordable
hotspots and top performer selection) and median price growth over the past
fifteen months between 2015 and 2016/17.
- Rental indicators - median rental price, rental
yield, and vacancy rates.
- Affordability - the average Victorian home
loan, which indicates the amount that banks are comfortable with lending to
home buyers. To determine the maximum property price, 40% is added to the
average Victorian home loan, which was $394,677** as at December 2016, having
increased by 3.7% from the previous quarter.
- Projects value - developments scheduled to
commence in the 1st half 2017, which includes mixed use,
infrastructure, industrial, and residential projects. This is key to
maintaining growth as it indicates a potential increase in economic and
commercial activity; as well as interconnectivity to key transport routes, the
CBD, and other major urban business hubs.
In 2016/17 the Melbourne property market saw unit prices begin to level out after a period of steady growth, while houses continue to benefit from an increasing Victorian population, unchanged cash rate, and sustained demand.
For further information on each PRD Sydney 1st Half 2017 hotspot please contact firstname.lastname@example.org