Melbourne housing market gets second wind

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By Leith van Onselen

Victoria’s Department of Transport, Planning and Local Infrastructure (DTPLI) has released January’s data on the number of housing transfers and mortgage lodgements/discharges, which suggests that Victoria’s (read Melbourne’s) housing market has gotten a second wind after appearing to have peaked in November.

According to the DTPLI data, the volume of housing transfers in Victoria fell by 12% in January, but more importantly – since the data is not seasonally adjusted – transfers were up by 5% over the year and look to be rising once more (see next chart).

ScreenHunter_6049 Feb. 12 15.23

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.