JLL Releases Melbourne Housing Market Report

JLL has released their Melbourne Housing Market report which details that the Melbourne market will continue to face both a decline in sales volumes and capital values despite Victoria continuing to outperform national growth in several key areas. Supply is forecast to remain limited due to financing hurdles. Demand has declined for investors and has moderated for owner-occupiers. Pricing of houses fell by 11.5% in the 12-months to November 2018 with apartments falling by a more moderate 3.7%. Rental rates are moderating due to vacancy rates slightly increasing.

BPFM’s view on the Melbourne Housing Market remains cautious, however economic indicators support a more positive outlook over the medium term. The economic indicators for Victoria however continue to outperform the national indicators with State Final Demand at 5.2% versus 2.5% for Australia, Population Growth at 2.2% versus 1.6% and Employment Growth at 3.5% versus 2.2%.

Download the full JLL Melbourne Housing Market report here.