Autumn 2018 Melbourne Property Report
Median House and
Unit Price Growth 2015-2017
The winners in during 2017
What sold in during 2017
Suburb Stats –
The mix of homes in
continues to grow
Victoria’s population has grown by about 1,000,000 since 2006 – that’s a 20% increase in the number of people traveling to work, attending schools, and looking for accommodation. In the last year alone, our state’s population increased by nearly 150,000. No wonder property prices have shot up so much in recent times.
There are plenty of interesting facts about our population beyond the sheer increase in numbers. For instance, did you know that 35% of us were born overseas? Melbournians talk a lot about living in a global, welcoming, richly diverse city, and surely this is the true proof point… Sit down at a café in , or anywhere in the north, and do a bit of people watching – for every 10 people that walk by, 3 or 4 were born in another country. They, or their parents, recognised that Melbourne is the best place to live in the world – good on them.
A lot has been written in recent years about Asia’s growing influence in the world, and considering where our large island is situated and what we have to offer, the ‘rise of China’ and other Asian countries is particularly relevant to us.
2016 Census Result in
Not surprisingly given our history, Victorians have overwhelmingly embraced our nearest neighbours – literally. Consider this: in 2006, just under 10% of us said we were primarily of Asian Ancestry (whether from South-East, North-East, Southern or Central Asia); in 2018, over 17% of us are. About 70,000 of our neighbours arrived in Victoria following WWII, mostly from Southern Europe (places like Italy and Greece), and have contributed greatly to the cultural tapestry that characterises Melbourne. In many ways, we’re experiencing the same sort of renewal today as hundreds of thousands migrate here from places like China, Malaysia, Indonesia – we’ve rightly claimed Melbourne as Australia’s sporting and fashion capital, but what about food capital?!
Melbourne is one of the top global destinations for migration, for good reason. When most people think about what’s important in their and their kids’ lives, they think about good health, a quality education, and a nice place to call home. According to the UN, Australia’s population grew more in 2017 than any other country with an advanced economy. Within Australia, the VIC population has been growing faster than any other state (2.3% compared to 1.6% in NSW and QLD). And, Melbourne’s population is growing at 2x the rate of the rest of VIC. Based on these facts, it’s hard to argue against those of us who proudly say we live in the best city, in the best state, in the best country in the world.
All the statistical analysis above has been provided by the independent company Property Analytics Australia. Details of micro areas can be provided on request.
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