Melbourne population overtaking Sydney imminently

Melbourne's been gaining pop over Sydney for years now and it's about to surpass Sydney. Does this mean, as the years continue to go by, Melbourne will slowly replace Sydney as the 'main' Australian city? By this I mean factors such as:

-global companies choosing to HQ in melbourne
-highest paid jobs in Melbourne, not Sydney
-financial and social capital moving there
-and relevant to our interests here - property price growth going forward in Melbourne will be superior compared to Sydney?

sort of like Shenzhen vs Hong Kong in the past 3 decades

Personally this is bad for me, I have several in Sydney and just 1 in Melbourne haha...

 

Sydney house prices will stay high- a lack of land and a warmer more inviting climate. Plus, worldwide, everybody knows our Opera house, our beaches and the Harbour Bridge. They draw people to want to be here. So don't fret!

 

Melbourne has a lot of land on all sides besides the hills in the east - Syd has limited land to expand on, limited positions with views for water/ bridge/ opera house and higher demand for those prime spots which results in significantly higher price point, especially in the premium suburbs which then dictate pricing for the adjoining suburbs and so on- all of which gives it the top 3 ranking in world's most expensive cities.

80% of my portfolio (by value) is in Melbourne and none in Syd but the driver of Syd values is limited land supply, water & harbour views and with more larger companies basing their HQs there.

I don't see Mel overtaking Syd in prop values - ever! However Mel is holding quite strong on its own (save the Andrews gov and its st*pid policies all around).

 

Also in Melbourne, there has been a lot of new land (new suburbs) earmarked for development as we keep growing - What might happen though is that we will end up having more prop transactions than Syd (we already are the largest auction market in Aus) and the more newer estates that come as a result of land being released, the lower the average / median price goes! The growth is largely due to immigration and 80% of immigrants go in the middle and outer ring anyway.

Perhaps that middle/ outer ring might experience more pressure on price points and those median values come under pressure - but overall, Syd will stay as the most expensive cap city in Aus

 

Melbourne will never overtake Sydney in property values.

 

No chance will Melbourne property prices surpass Sydney in the near future (<15 years - if ever). Sydney has a lot more to offer and is a much more attractive place to live (IMHO of course ).

 

Maybe with recent taxes hikes exudes of Victorians to other states will prove the forecast incorrect?

 

I can't see Melbourne overtaking Sydney in the next decade. Post Covid, lifestyle has become the new mantra, and the northern city locations provide a more popular option for this. Also, based on what I saw in today's state budget, there is very little incentive for business to invest in Victoria. I think there'll be a flight to safety from business as Victoria's economic recovery slows. This will also encourage those ordinary folks contemplating a move to pack up and go. It all has the smell of Kirner/Cain's late 80s about it, but I hope I'm damn wrong.

 

Haha as if this isn’t going to spill into a Sydney V Melbourne debate.

If you like a terrible CBD with no culture
And a state with no sport then definitely go to Sydney....haha

Shots Fired!!

 

BUTTTTT even as a Melburnian I concur our property prices will never surpass Sydney.

 

Melbourne is run by Labor State government.

If this doesnt deter you moving in nothing will.

Maybe the new taxes on corporate sector and investors .

The African gangs running the streets maybe a deterrent as well.

African gangs cause chaos in Melbourne | Daily Mail Online



Sydney all the way.

We are safe
We are pro business
We have an Opera house that is famous
and a Bridge

Im sure im missing something else hahahahahahah

 

Hehe
Can you believe during the mining boom of 2001- 2007 Perth overtook Syd median for all of 2 weeks.... true

Never say never...... Melb could overtake Syd?? Why not??? Its all about supply vs demand

Also Syd is not land locked..... look at all the new estates. Its not Hong Kong.

 

The comrades in parliament of the socialist state would destroy Vics property values before they let it beat Sydney's.

 

True

It always surprises me how many lefties are on PC. Sort of goes against the grain or am I wrong

 

Let me tell you, most are absolute hypocrites through and through. They want to make lots of money in real estate as well as come off as the holy protectors for all those wronged by evil capitalism.

Oh Puuuulease!! Gimme a break!

 

Lol

 

a more attractive place to live where according to OP less people are going to live?
obviously Melbourne is more attractive or do they just have more babies?

 

As I said if you Like no culture and no sport then Sydney all the way.
OH and if you Like bad coffee..

Give me the MCG over a bridge any day of the week.

 

Apart from Melbourne being the sporting capital and having the best restaurants, shopping, arts, culture, live music, stand up comedy and lifestyle in Australia, the state's population is also gaining on NSW

 

QLDs a big place for 5m people. I’d love to see that concentrated towards Brisbane, then we would have property values twice that of now lol