As I pointed out in A COUPLE OF POSTS BACK IN OCTOBER, the property market in Melbourne’s northern corridor has always enjoyed good levels of interest from property investors, and I can’t see that changing any time soon.

What is worth noting, however, is that the headlines we saw over the past year or two about huge rises in average rents across Melbourne have disappeared, as the rate of increase in rents certainly appears to have stabilised.

In fact, the latest quarterly report on the Australian rental market from Corelogic suggests that we are now well and truly past the peak of the rental boom for the foreseeable future.

Corelogic’s figure show that rents rose by just 0.4 per cent nationally in the December quarter. This was the smallest change recorded for the fourth quarter since 2018. So while rents have continued to rise, the rate of those rises is now much lower, which will be good news for all those renters who have been struggling to cope with the larger increases in recent years.

That quarterly change brought Melbourne’s annual rental increase to 4.1 per cent, compared with the national rate of 4.8 per cent. That’s a far more manageable figure than the increase of over 36 per cent nationally since we saw the arrival of Covid!

If these figures have got you thinking about your own property investment plans, whether you have already begun your rental portfolio or you are simply planning your first step towards securing your own financial future, I would invite you give us a call at Barry Plant Thomastown for some experienced insights and advice.

You can give me or one of our respected Property Management team a call this week on 9466 3233.

In the meantime, allow me to wish you a safe and relaxing long weekend.

Regards,

Con Constantinou

Barry Plant Thomastown