Theresa Worrell: Melbourne Housing Market Update [video]

Melbourne housing values have been consistently trending higher since June last year, recording a cumulative recovery of 11.2% since the market trough.

The upper quartile of the market has been leading the growth trend, with the most expensive quarter of housing recording an 11.5% capital gain over the past year while lower quartile values are up less than half of this amount, increasing by 5.6% over the same time frame.

Overall, Melbourne dwelling values are now only 1.2% away from reaching a new record high.

Although the pace of capital gains is slowing, it`s highly likely we will see Melbourne dwelling values staging a nominal recovery by March this year.