Global Power | Local Knowledge | Uniquely Personal
中文

Vacancy rates encouraging for i...

Vacancy rates encouraging for investors in Melbourne

Investors may be encouraged by the reduction in vacancy rates within Melbourne.

Vacancy rates in Melbourne have fallen below the average rate for this year, which could be encouraging to investors planning to buy a house in the area.

According to the Real Estate Institute of Victoria (REIV), vacancy rates in Melbourne fell to 2.9 per cent in September. This is a drop from the 3.7 per cent measured in August and is below the average rate for the year.

Currently, consumers appear to be feeling confident about buying property in Melbourne. The lowered interest rates from the Reserve Bank of Australia (RBA) have helped to make housing finance commitments easier to manage. As a result of this coupled with rising wages, housing affordability has improved within Australia.

However, the increase in demand for property has pushed prices up in areas like Melbourne and Sydney. As a result, this has created fears of a housing bubble and could be the reason why people in Melbourne have turned back to renting.

Posted by Craig Francis

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

Subscribe Now