Melbourne to run more

Been a while I opened this part of the forum and 8 of the first 10 threads are about Melbourne. Looks like it's doing a catch-up to Sydney. High vs Higher
 
Hi

I think you are right...

I have been going to many auctions in melbourne in recent week just to see what is happening out there and it has been crazy!!
 
Melbourne's median is almost $300k below Sydney - $914k to $638k. In 2010 I think they were almost even at around $505k and $525k respectively, there's a lot of catch up to be done IMO.
 
Agree Melb will be closing in on Sydney

A natural extension of the overheated market in Sydney, people will look for the most comparable alternative ... can't go past Melb
 
When I saw the heading " Melbourne to run more " I thought is was going to be an Aussie rules post ...

BTW , how has docklands gone ? Have prices moved up despite the negative hype or is the extent of oversupply able to keep it flat when most places are moving ?

Cliff
 
When I saw the heading " Melbourne to run more " I thought is was going to be an Aussie rules post ...

BTW , how has docklands gone ? Have prices moved up despite the negative hype or is the extent of oversupply able to keep it flat when most places are moving ?

Cliff
We were kidding about hyping Docklands..
Docklands and southbank have barely moved despite the rest of Melbourne moving. The supply in those areas has all but killed them. It will take 5+ years at the minimum for the excess supply to he absorbed and price growth to return to these areas. By that time, even struggle st. mt druitt would have done more cg.
 
We were kidding about hyping Docklands..
Docklands and southbank have barely moved despite the rest of Melbourne moving. The supply in those areas has all but killed them. It will take 5+ years at the minimum for the excess supply to he absorbed and price growth to return to these areas. By that time, even struggle st. mt druitt would have done more cg.
So not much change at all ?

We've stayed at docklands when we've been to Melbourne and it came across as a nice convenient place . Out side the supply issues , some where in Sydney , that close to the city would be significantly more expensive ...

Cliff
 
So not much change at all ?

We've stayed at docklands when we've been to Melbourne and it came across as a nice convenient place . Out side the supply issues , some where in Sydney , that close to the city would be significantly more expensive ...

Cliff
Not a bad place yo live, in my opinion... But a horrible place to invest.
Nevertheless, give these places another 20-25 years and they should be fine on the cg front... But then again, so will a lot else. It's about opportunity cost and strategy.
 
We've stayed at docklands when we've been to Melbourne and it came across as a nice convenient place .
I don't even find Docklands convenient. You still have to catch a tram in, because I don't consider 1.5-2k's to the middle of the CBD a comfortable walk when I'm just there for a short weekend trip. I always stay in the CBD.

I think Docklands is stuck in this weird middle zone. Not far enough to enjoy the openness of the suburbs (like Richmond or Carlton), and not close enough to be able to just step out into town.
 
Been a while I opened this part of the forum and 8 of the first 10 threads are about Melbourne. Looks like it's doing a catch-up to Sydney. High vs Higher
Quite a bit really, Syd Median $920K?.... Melb $660K, massive gap, give it 6-12 months that gap will shrink somewhat:) Here's hoping
 
I'll have a very good comparable sale to gauge it with soon... an apartment in my small complex inner North sold exactly two years ago and is up for auction again. Will post results.
 
MTR, wouldn't be surprised if the median price in Melb has already past $700k this quarter. How does say $730k and $970k compare? Does that change your perspective?
 
FWIW I know small Toorak Units took off (20%+ CG) in the last 12 months (after 6 years of basically flat - since 2007).

Booms typically start inner and ride out through the suburbs.
 
FWIW I know small Toorak Units took off (20%+ CG) in the last 12 months (after 6 years of basically flat - since 2007).

Booms typically start inner and ride out through the suburbs.
 
MTR, wouldn't be surprised if the median price in Melb has already past $700k this quarter. How does say $730k and $970k compare? Does that change your perspective?
Agree!


New quarterly figure should be circa $700-$750k

I am really happy.. most of my developments are happening in Melbourne....aiming to sell some in this oct-nov and then feb-mar next year..

good position to be in.

i am sure local Melbourne developers and investors are in for growth..

even part of geelong and new estates are seeing growth in sales from interstate investors..and FHB...
 
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