Theresa Worrell: Melbourne Housing Market Update [video]

Melbourne housing values were 2.2% higher over the month of November, taking values 8.3% higher since the market bottomed out in May earlier this year.

CoreLogic has released their newest housing market update for December 2019.

Melbourne home values are now only 3.7% below their October 2017 peak.

At the current rate of growth, we are likely to see Melbourne home values reach a new record high over the first few months of next year.

House values are rising faster than unit values across Melbourne, up 8.6% since bottoming out compared with an 8.1% rise in unit values across the city.

Stronger capital gains are concentrated within the upper quartile of the market, where Melbourne`s most expensive 25% of properties have recorded a gain of 11% through the recovery phase to date, while values across the lower quartile are up a smaller 5.7%.