Melbourne’s highest-priced homes are rising fastest in the current housing-market boom, with that segment of the market buoyed by low interest rates and business confidence.
Dwellings in the top 25 per cent price bracket have jumped 10.8 per cent over the past six months, more than the rate of gain shown by homes making up the middle-band and also more than those in the lowest-priced quartile, figures from CoreLogic RP Data show.
“Confidence is high, stock levels are still relatively low and everything’s moving,” said Gowan Stubbings, a director of estate agency Kay & Burton.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Melbourne’s highest-priced homes are rising fastest in the current housing-market boom, with that segment of the market buoyed by low interest rates and business confidence.
