Sell with Confidence
Read More
News

Melbourne outperforms Sydney property value growth

By Matt Hurlston

People with real estate in Carnegie rejoice! Sydney has been the darling of property investors for quite a while now, but it looks like it’s Melbourne’s turn this year.

A new statement from CoreLogic RP Data has demonstrated that Melbourne has toppled Sydney as the best performing city in the last 12 months. Having continued to grow at a median of 11 per cent value year on year, Melbourne has outstripped Sydney which fell behind to a small, but still respectable, 10.5 per cent.

“Melbourne’s housing market has been more resilient to slowing growth conditions which has propelled the annual growth rate to the highest of any capital city,” said said CoreLogic head of research Tim Lawless.

“The latest data reveals Sydney’s housing market is now playing second fiddle to Melbourne’s.”

While Sydney still sits at a higher median value at $776,000 to Melbourne’s $595,000, according to CoreLogic, this reported higher growth is sure to tip the scale in Melbourne’s favour when it comes to potential buyers.

Not just about the city growth

However, if Sydney is now playing second fiddle to Melbourne, then many Melbourne suburbs are merely the percussion section in Carnegie’s orchestra. Residex data shows the suburb has seen a whopping 20 per cent value growth per annum for Carnegie houses, vastly outstripping not only Sydney, but the rest of Melbourne too.

Clearly, it’s not just about the city that you buy into, but the suburb that you take a slice of too.

If you’re looking to buy into a suburb that not only has plenty of character, a good community and solid schools but shows serious capacity for capital gains, speak to Matt Hurlston and the team at Ray White Carnegie. From Malvern East to Oakleigh, we’re the local experts in Carnegie real estate!

Up to Date

Latest News

  • Routine Inspection | Ray White Property Management

    Article Source: Click Here How to prepare for a routine property inspection. These inspections help ensure your rental property remains in good condition throughout your lease. Step 1: What is a routine inspection? A routine inspection is conducted by your landlord or property manager to check that the property is … Read more

    Read Full Post

  • Making Room For Mindfulness The Latest Trend In Home Design

    Article Source: Click Here Spaces that blend the indoors and outdoors are perfect to create meditation nooks in your home. Image source When did you last take a breath? A really good, deep, slow one. Sometimes we need a gentle reminder to pause and recalibrate. And finding the right place … Read more

    Read Full Post