Theresa Worrell: Melbourne Housing Market Update [video]

In Melbourne, the pace of capital gains slipped from 2.4% in March to 1.3% in April.

Considering housing values have risen at the average monthly pace of 0.4% over the past decade, the current growth environment can be described as rapid.

House and unit values are rising, but unevenly.

House values have increased by 9.0% over the past six months compared with a 5.4% gain in unit values.

Similarly, growth has been broad-based but diverse across the sub-regions of Melbourne, with the Mornington Peninsula substantially outpacing other areas of the city, with dwelling values up 13.1% over the past year.

The next best performing region was the northeastern suburbs where values were up a smaller 4.6%.

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