I help customers secure finance to buy residential and investment property in Australia by advising on and managing the lending application process to ensure a successful outcome.
Interesting read from CoreLogic.
Melbourne’s median dwelling value dropped down to the 6th lowest city, behind Brisbane, Perth and Adelaide. This is a whopping 50% difference from Sydney’s $1.18m! We’re here to break this down for you in a quickfire summary. Rise in housing values since August 2019: - Perth > 76.4% - Brisbane > 71.5% - Adelaide > 70.8% - Sydney > 43.1% - Melbourne > 19.8% So, what’s happened? To answer this question, we must first explain what is meant by median dwelling value. It measures the 50th percentile valuation estimate of all house and units combined. Over the last four years, Melbourne has densified significantly with 33% of housing stock in multi-unit sector. With unit values much lower than house values, this is bringing Melbourne’s median dwelling value down relative to other cities. We’re likely to see a renewed focus on densification in Perth and Adelaide over the coming years, which will cause a significant change into the median dwelling values. What does this mean for home buyers and property investors? We predict Melbourne’s property values will catch up over the next couple of years. It’s an undervalued housing market which means it’s an opportune time to buy. If you’re looking to buy your next home or investment property and need a home loan at a great rate then look no further. Contact us today to find out how we can get you a home loan at a great rate, hassle free. https://lnkd.in/g83CTbqX
