Melbourne property prices are ‘underperforming’ compared to other capitals:
– Melbourne’s median house prices have declined by 1.1%, and apartments by 0.9% in the past year.
– The oversupply is due to more homes being built in Victoria than other states over the past decade.
– Negative net interstate migration continues to reduce demand.
– Investor activity is low due to new landlord taxes and with fewer investment loans than the national average.
– Increased density with a higher proportion of units (33%) skews prices lower.
Article source:
https://www.fool.com.au/2024/09/10/shares-vs-property-why-are-these-2-blue-chip-investments-losing-value/
Source: MannerNo7000