Melbourne Real Estate Recap: 16-22 June 2012

Posted on June 22, 2012

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Welcome to our very first weekly recap!
These recaps are intended to give anyone that works in Real Estate in Melbourne (or has an interest in it) a quick snapshot of what has been happening in terms of news/analysis/articles and any ‘word on the street’ about our property market. Without further ado, I present Recap #1!
  • Analysis shows realestate.com.au is the property portal that is trumping all competition: Link
  • RBA noting decline in house prices despite low interest rates: Link
  • Melbourne has highest vacancy rate in the country at 3.1%: Link
  • Melbourne’s urban boundary having almost 6,000 hectares added to it and it’s not likely to appreciate in value: Link1 Link2
  • “Vic population up 75k in 12 months to dec q, that’s a substantial drop from the 118k it increased a few years ago #melbRE” from @REIVictoria
  • Six suburbs in Melbourne lose their million dollar status: Link
  • “Dwelling commencements fell by 12.6 per cent in the March 2012 quarter…” “New housing decline signals urgency for government action” Link
  • “Fewer households across Australia own their home outright than did five years ago, a snapshot of the nation shows.” Link
  • And lastly, a nice short snapshot of some of the property related census data: Link
    While many of these headlines paint a picture of a slow, stark housing market, I really think that this is not something we should be panicking about. Every property market goes through a cycle and just because we are nearing, or in the bottom of the cycle we should keep calm and carry on. Sensational headlines like, ‘New housing decline signals urgency for government action’ is unnecessary. In my humble opinion.
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