Melbourne housing’s second wind blows harder

Thursday 23 April 2015

Victoria’s Department of Transport, Planning and Local Infrastructure (DTPLI) has released March’s data on the number of housing transfers and mortgage lodgements/discharges, which confirmed that Victoria’s (read Melbourne’s) housing market has continued to strengthen after appearing to have peaked in November.

According to the DTPLI data, the volume of housing transfers in Victoria fell by 3% in March, but more importantly – since the data is not seasonally adjusted – transfers were up by 12% over the year and look to be rising at a faster rate (see next chart).

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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.