A snap shot of what is happening on the ground in Melbourne

Yoy listing increase by 42% in melbourne doesn't bode well for the prices in coming months,

Is FONGO kicking in?

 

Exactlt, medians, suburb medians, desktop vals, valuation software all mean squat

The best is heaps of comparable sales

 

Also this particular suburb is 99% H & L. A tremendous amount of estates were built over the last couple years. All 400-600k homes selling in quantity 17/18 and skewing the median of the established estates. Hard to know what each area is actually worth. But I've been watching the established areas and strangely they've been stagnant until the last 6-12 months. Not much action at all until now, homeowners are probably moving into the market while investors pull out. Almost like a calm before the storm type scenario

 

Possibly already mentioned, but in these times of tougher access to credit I wonder how many of these are under contract on Monday subject to finance.

While I bought my PPoR at auction on the back of a pre-approval letter a couple of years ago, I doubt I'd be so bold under current conditions.

 

And do you obtain these manually by looking at re.com.au map sales? Or is there an easier way?

 

Why there’s no reason to fear the downturn in Melbourne

 

@highlighter

Spoiler

told you so

 

When falls are top down (as it is due to credit tightening rather then IR hikes),
top end got effected first and most and price falls will trickle down to lower end soon if not already.

He was saying the same thing about Sydney few months ago, now look at Sydney even the the lower end has started feeling the pinch.
It's a top down fall, will soon trickle down to lower end if not already.
Melbourne's rate of fall is increasing in Jan 19 it has surpassed even Sydney's momentum for first time.

 

I have yet to see a declining property market where the top end is not affected first regardless of ir or credir tightening

 

Stop it. You're making too much sense.

 

yeah yeah It always is and plenty of 'gurus' learn it the hard way.
You never answered my question: where are your properties? And another one: Did you buy them (if you did) with money you worked for yourself? If not, no need to reply but then don't expect to be taken seriously with your half baked waffle.

 

"Prices won't fall in Sydney mate, harbor, migration -- Oh okay but just a little bit. Hmmm, yeah but markets within-- oh all markets... umm well data doesn't matter, fake facts,I go by my gut! How many properties do you own! "

 

Camberwell Melb, representing good value atm

 

camberwell is such a large suburb though, with various schools - depending where you are will vastly affect value. for example if youre burwood side, it's cheap as chips as youre wattle park school zone.. if youre middle camberwell around wattle tree rd, you'll qualify at canterbury primary so pay a little more.... if youre over glen iris side, youre likely in hartwell for similar dollars... but if youre in what i call camberwell proper (hawthorn east side) and want camberwell primary, youre still paying big dollars.