Melbourne Property Market Update – January 17th, 2015

By Peter Sarmas on 17 Jan 2015
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If you pay the median price and get a big mortgage it could end up costing a lot more than you think. Find out how much your mortgage will really cost you and how mortgages are killing the ‘Australian Dream”.

Investors have helped fuel Australia’s property boom, but the growth in the rents they charge tenants has hit its lowest annual rate in more than a decade. Sourceable Industry News reports on the Australian house and unit rental growth in 2014 and the percentage changes per capital city.

The top 10 Melbourne suburbs ranked by growth in house values in 2014 were dominated by some of the cities most expensive suburbs, located south of the Yarra. Robert Larocca from Corelogic RP Data reports on the house value growth in the Melbourne suburbs and which top ten suburbs ranked the highest.

It turns out that the fastest rise, measured over the year to September, was in the Sydney suburb of Mays Hill where the median price of a house rose by a whopping 48.8 per cent. Find out what the median prices and annual rises were for the fastest-rising suburbs in each of the state and territory capitals.

Despite the regulations around design for bushfires, Australian houses are still burning in unacceptable numbers. Ian Weir via Architecture Australia explains how we can build homes to survive bushfires so why don’t we?

Victoria’s planning authorities have given the go-ahead for the construction of apartment towers between 5 and 19 storeys in height at Waterfront Place, just next to Station Pier on the shores of Port Melbourne. Read Marc Howe’s report via Sourceable Industry News about how Port Melbourne could soon host a high-rise waterfront.

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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