Visit Melbourne Property Market & Prices for updates about all the latest Melbourne property market news, prices, forecasts and updates in 2013.
In what's been the worst kept secret the Australian Govt released the Budget last week. We discuss how these new proposed measures will impact the property. ...
Housing Affordability has become a political centerpiece for both State and Federal governments, with voters exerting enormous pressure to bring “The Great Australian Dream” within reach, especially for first home buyers. Whether new measures by government will increase housing affordability remains to be seen. ...
The Reserve Bank Governor addressed parliament last week. The gist of his speech was that he remained concerned about rising household debt levels with little or no wage growth. Mr Lowe discussed the challenges of stimulating the Australian economy further and creating a potential “dangerous” situation, as a result of further rate cuts. ...
A key warning sounded by the RBA though was aimed at the property market and in particular a rise in speculative investing to property investors. This warning was followed up last week by APRA’s public announcement to banks that they will be punished for breaching the 10% speed limit on lending to property investors. ...
A big driver of Melbourne property prices has been its population growth. Respected economist Saul Eslake points out that in contrast to other states, population growth in Victoria is accelerating (reaching a seven-year high in mid-2016). Eslake says "even though there is a lot of new supply coming on-stream in Melbourne, prices could still keep rising during 2017, albeit at more moderate rates.” ...
Housing affordability is at an all time low especially amongst first time buyers. Demographer Bernard Salt says those Millennials with desires to buy a house should consider curbing their lifestyle. ...