Top 5 Melbourne Hotspots July 2019

You could think it would be difficult producing a Top 5 Melbourne Hotspots report in the current market.   However, in our winter survey of Melbourne's metropolitan area we found that 44% of 435 house and unit markets have median prices higher than a year ago.     The current situation with the Melbourne market reminds us that real estate investment requires a long-term view.    For much of the past five years it’s been easy to buy and enjoy short-term capital growth but those opportunities no longer abound.   The locations highlighted in this report are ones that offer good long-term prospects because of their inherent local qualities. They’re places that have shown resilience amid the recent market correction and have good credentials for future growth.   Despite the general theme of downturn, there continue to be areas showing resistance with their pricing levels. Apartment markets in particular are holding up well and there are more suburbs with rising unit prices than those with prices down.   Melbourne continues to show that, even in a city with a distinct overall trend, there are many diverse scenarios in play. Different sectors are producing different results, both with sales activity and with price outcomes.