#MelbourneDwellingPrices #RealEstateMarket #PropertyInvesting
๐ Calling all real estate enthusiasts! ๐
Have you heard the latest news about Melbourne dwelling prices falling? According to Louis Christopher at SQM, the clearance rate is below 50%, indicating a decrease in prices. But don’t panic just yet, the falls aren’t massive, but they are noticeable.
Here are some key takeaways from the report:
– Final clearance rate in Melbourne was 45.8%
– The market has been weak for quite some time
– Sydney is also experiencing challenges, with prices treading water in real terms
So, what can be done to weather the storm and potentially benefit from the current market conditions? Here are a few suggestions:
– Consider holding off on selling until the market stabilizes
– Look for opportunities in emerging suburbs or areas with potential for growth
– Seek advice from real estate experts to navigate the market effectively
What are your thoughts on the current state of the real estate market in Melbourne? Share your insights and let’s discuss how we can make the most out of this situation! ๐ฌ๐ #RealEstateInvesting #MarketTrends #PropertyMarketDiscussion
WMR is that you?
Perfect.
Slight correction then watch them have a solid bull run for however long you want. Pick a number.
Melbourne property is clearly undervalued, investors have been scared away by land tax rises etc. Thereโs not a universe where Melbourneโs real estate is less than Brisbaneโs (which it is currently).
Get on the train now!
I’m excited.
Not because I want house prices to fall, but because this sub is much more interesting when the property market is falling.
Actually, below 70 per cent clearance rate, in a market dominated by auction sales, indicates an unhealthy market, where it repeats. Houses on market for longer than 30 days is also an indicator the property is over priced or market is slow.
Watch investors start circling.
Prices will increase again soon after investors are done with it haha
Still competitive out there for family homes. Good market for downsizers.
What Victoria has done should be applied everywhere. It literally forced property investors out of the market.
Stop gamifying property. All it does is lock out more people (who should be able to buy and own property) by working a job fairly from the market.
When you keep focusing on price growth, all it really does is divide the population. Look at New York, London, Los Angeles, Sydney, Auckland, Toronto, Vancouver.
Congratulations if you’ve financially benefited from this but what about the large number of people that aren’t able to get on the ladder stuck renting? (And that’s just a good portion of the working class).
What about the lower middle class and lower class?
If nothing changes, expect more tent cities, increased homelessness, increased crime and increased domestic violence (from the stress of working a job for the sake of paying the mortgage).
People blame immigration but who decides immigration? The immigrants or the government?
House prices are overinflated and need to go down a bit. Doesn’t mean a crashes happening and it certainly doesn’t mean people who currently don’t quality for mortgages all of a sudden will be able to start buying.
It just means boomers will grunt and hold on to their properties until prices are up again so they get the highest price. Only those who need to upscale/downscale will sell and buy somewhere else. Until stock is lower and prices goes back up.
Thinking of relocating to Melbourne for work purposes (my company is based down there) and also to get into the property market.. seeing 2 bed apartments for 200k less than comparable properties in Brisbane… only issue is I start a new role on Monday.. would be rogue to leave so soon and potentially damage my reputation in the company.
But property canโt ever fall in price
Source: every Sydney property investor whoโs never lived/bought in QLD, Perth, Canberra, Melbourne, Darwin etc
Been happening for so long they cant gaslight any more
Good properties = stagnant or slightly up.
Bad properties = slightly down.
You still can’t afford land anyway.
In other words everyone has made money except those who bought in the last few months.
Reality is no new apartments have been built in Melbourne for a while.
I guess with CFMEU issues, there is potential for price cuts on new buildings, but other than that any new building of apartments is going to be quite expensive.
Vic govt is chasing changes to allow more Uni intakes from overseas.. be interesting to see if this happens..
But other than that, all drivers will increase costs and hence pricesโฆ
Iโd say itโs to do with the influx of lower end properties hitting the market as investors sell their properties due to land tax