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You should NOT buy Central Melbourne off-plan apartments unless you are willing to take a loss as Melbourne units fall an average 11.5% in year one, according to the The Australian Financial Review Magazine. Central Melbourne off-plan apartments fell about 11 per cent in the first year between their original purchase and pre-settlement valuation, figures from valuation firm …
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MANY people who bought houses on Melbourne’s fringes in recent years could be facing financial ruin after a slump in prices has left them owing more to the bank than their homes are worth which means they now have negative equity in their homes, experts have warned. A three-bedroom brick veneer house in the western …
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Chief Economist at the Macro Investor Leith van Onselen shared his 12-month price forecasts for Australia’s capital city housing markets based on consideration of key price drivers: housing finance; housing supply; affordability; and the macroeconomic outlook. Melbourne: -8% to -5% Melbourne’s recent price performance has been poor, declining by 11.0 per cent (houses) and 7.4 …
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Australia property prices continued to drop in June 2011, according RP Data-Rismark Hedonic’s latest home value index for capital cities. Based on almost 150,000 home sales nationally over 2011, the report found that Sydney house prices dropped 0.2 per cent in June 2011. Melbourne house prices dipped 0.1 per cent for the month, pushing the …
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