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).