Melbourne housing bubble in blow-off phase

Tuesday 29 September 2015

Victoria’s Department of Environment, Land, Water and Planning (DELWP) has released August’s data on the number of housing transfers and mortgage lodgements/discharges, which suggests that Victoria’s (read Melbourne’s) housing market has entered the blow-off phase of the bubble.

According to the DTPLI data, the volume of housing transfers in Victoria rocketed by 20% in the year to August (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.