Melbourne

[FirstTimeBuyer]

Hi,

I'm curious to know why do most people feel that Melbourne has reached its peak? It seems like the general consensus is that Melbourne's at the 12 o'clock mark on the property clock. Is it cause it's experienced a recent growth?

From the statistics I've gathered at a macro level, Melbourne's population growth and job growth is expected to be on par if not better than Sydney in the years to come. When I compare house prices (not interested in apartments for now) between Sydney and Melbourne, the Melbourne houses seem to be priced much more affordably.

This price gap feels like Melbourne has some ways to catch up to Sydney prices which equates to untapped growth potential?

 

[NPB]

Hi,

I'm curious to know why do most people feel that Melbourne has reached its peak? It seems like the general consensus is that Melbourne's at the 12 o'clock mark on the property clock. Is it cause it's experienced a recent growth?

From the statistics I've gathered at a macro level, Melbourne's population growth and job growth is expected to be on par if not better than Sydney in the years to come. When I compare house prices (not interested in apartments for now) between Sydney and Melbourne, the Melbourne houses seem to be priced much more affordably.

This price gap feels like Melbourne has some ways to catch up to Sydney prices which equates to untapped growth potential?

I certainly feel there is some growth left in the Melb market, "untapped growth potential' might be stretching it a little !! Auction clearance rates over 80% , market has been strong for some time so maybe it is 10.45pm

 

[FirstTimeBuyer]

lol untapped is probably not the right word. But houses in Sydney are 20-30% more expensive than Melbourne.

 

[albanga]

Melbourne IMO has a lot of juice still but some markets are nearing 12.
I still believe the North has a lot to offer and you can still pick-up splitter blocks for sub 500k. Areas like Tullaramrine, Broadmeadows, Fawkner, hadfield, lalor, epping.

 

[jpcashflow]

Hi

Hello,

Melbourne is to Broad!!! In any market there will be suburbs that will grow, some will sink and some will remain the same

 

[JamesP]

What about the Casey region ie Berwick/Beaconsfield/Cranbourne/Dandenong/Hallam/Narre etc?

All these area's have remained flat since 2010. Either demand isn't there or they have a lot of catching up to do.

 

[natedog]

What about the Casey region ie Berwick/Beaconsfield/Cranbourne/Dandenong/Hallam/Narre etc?

All these area's have remained flat since 2010. Either demand isn't there or they have a lot of catching up to do.

With the massive volume of residential vacant land that has been sold this year in areas like Cranbourne, Clyde and Officer in new estates I think it's going to be reflected in the new housing starts in the next 12 months as that land becomes titled that Melboutne is about to have another building boom.

Hence less pressure on pric growth on existing houses in areas adjacent.

Unless the specific property you are looking at has something unique.