Melbourne Property Market Warning

[@lengerer]

We need lower property prices, it’s unaffordable for regular people. Be good if other states follow Victoria

[@Diplonomads]

It will

[@EstateBuyerAgents-dr7cp]

Interesting...this video is a classic example of a contrarian "buy" signal. Warren Buffet would say "be greedy when others are fearful and be fearful when others are greedy".

[@jamesprytz4971]

Melbourne is set for massive growth, it’s been in the lull, it’s in recovery and gearing up for a comeback. I love it when experts say just to look at the data, data only shows what has already been - look at Perth 4 years ago, if you brought based on the data you would’ve been called an idiot. Same with Brisbane not too long ago! Melbourne is now the most populated city in the country, bypassing Sydney with record immigration, housing shortage and a lack of new homes being built. Melbourne is a great city to live with arguably the top job markets in the country for skilled workers. Melbourne also experienced the largest population growth in the country last year. Brisbane and Perth have a median house value close to melbourne - clearly Melbourne is undervalued right now. We all know that Melbourne is a city that should have a median value significantly higher than these cities and closer to that of Sydney. Yes taxes are high and the state is in the most debt - this is all fairly temporary and land tax will probably be removed or reduced as it is hindering rental availability with investors leaving the market.

[@gerrym3183]

Some comments are INCORRECT , There is massive demand for rental properties in Melbourne, I got three properties and it’s amazing to see the demand…

[@markserainidis1058]

Melbourne land tax is slowing down the property market, simple..

[@Ben-zv7ph]

Who's to say that government will not do the same in every state? Force higher standards accompanied with higher insurance council rates and land tax. Then corporate take over. Just a theory but one to watch over the next 6 years. I'm in and out in two years chasing other assets.

[@pistolpete8539]

There is only one insolvent woke driven socialist Victoria. (excluding Queensland) Ha!

[@geneLYH]

The other states aren't as die hard communists

[@massimilianomarrazzo2392]

Good video. The only thing that I don't agree with is the outlook for the vacancy rate and rental yield: since investors are fleeing the Melbourne market, there will be fewer properties available for rent, so vacancy rate will drop and rent prices will go up, although maybe the yield will not be so much affected due to the Victoria Government decisions against investors. At some point the Melbourne residents will complain with their Government and some new laws in favor of investors will be finally implemented, the problem is how long this can take ...

[@Soundmaster91]

Dreaming

[@siblingworldtv1946]

Land tax is there in QLD as well, so are other costs such as insurance and council rates. I compared all states and VIC doesn’t look that bad.

[@jakeryan56]

The issue isn't land tax - the issue is that VIC dropped the land tax threshold to $50k which means basically every property is subject to land tax. I own a $750k investment in Brisbane and don't pay any land tax

[@siblingworldtv1946]

@@jakeryan56 I own propery in QLD too but pay higher rates, higher insurance premiums , higher PM fees and for me as I own in a trust (350k threshold) land tax as well. Yes 50k threshold in VIC, but overall the holding costs are similar hence the Nett yields

[@JoeyBlogs007]

Those property standards will simply send rents through the roof.

[@asfn5267]

Wow look af all the fear. This means time to buy.

[@TonyXDZ]

+5% interest rate for 3 years at least

[@theot58]

I don't trust Core Logic data. it contradicts the Valuer General data

[@anthonycoyle2889]

In the covid lock down people where moving in the regions sites unseen buying anything and prise went up 30% in 18 months now people have work out it do suit then and capital gains in regions is low and can go negative many house have been on the market for over 6 months, bad luck speculators there's always risks in investing and government always wins

[@satay8167]

Good keep vic less attractive to investors. Dwelling is to Iive in not for speculation . Go other state to make money

[@apexsmixedlollies]

How about you call a spade a spade. Melbourne prices have dropped nearly 30% since its peak in 2021. Melbourne has CRASHED

[@Sandydigitalmarketingtraining]

Thanks for video. However, realistic I want to buy house in Melbourne they usually put 650-750k, and sold at 830k some house good condition $920k what’s happening? Until now I could not find any old house and land 600 m2 - 650-700k around Dandenong area where 30 min -40 min from CBA.

[@bdannnn]

yeh.. when you do manual research on properties instead of looking at the released data, it never seems to line up. the prices in the last year seem to have grown significantly.

[@fredsalfa]

Thanks for that. A very convincing argument and analysis of why Melbourne is not the place to invest. Almost the opposite story of Perth using the same data

[@craiggrocott7559]

I thought it would have bounced back once Dan Andrews resigned.

[@johndoh6198]

Melbourne is looking prime!

[@bobjones2229]

when the market is never allowed to balance and held up for to long a correction is eventually going to happen

[@user-xj3bd3qx4h]

Tasmania had minimum standards, years ago. So I knew that it wouldn't be long before other states would do the same. Tasmania brought those standards standards

[@robinduffy6690]

Why does Australia Ha66ve6 no Federal We6alth6 Fund ???

[@samchristopher4733]

No infrastructure projects in Melbourne at all…

[@2mallikharjuna]

Victoria is not good place to have a house

[@JoeyBlogs007]

Yes it's crashing in VIC.

[@amitsalaskar1024]

Basically Australia farked itself up during covid.. when the country wasnt as much affected against the economical disaster these laid back govt created

[@jasonho7281]

how about Geelong?

[@dsinghr]

I just bought a 1.47 mil townhouse in Melbourne mount Waverley. 😢 hope it grows at least 3-4 percent every year

[@LB-xo5so]

Not for next 1-2 years but wait till 1-2 cycles it is a good area

[@hereg3043]

Not until land tax eases. Thanks for voting Labor.

[@gerardczosnowski8916]

In Argentina they devalued the currency cause they're highly indebted. Victoria is carrying huge debt but cannot devalue it cause the other states are doing comparably well. Probably a combination of significantly higher taxes, a decade of stagnation and very few $$ for job creating projects.

[@lalachor1]

Bad idea

[@LB-xo5so]

@@lalachor1 bad idea for who inspires to be quick rich!

[@dannyprice1990]

Good. Invest in stocks, property is for living.

[@monicak9555]

Interesting. What about if you're looking to permanent relocate (Australian expat) to Melbourne over the next three to five years?

[@samb3783]

Same boat as me mate, watching from London, I'm a Melbournian looking to return, I do think it'll stay relatively stagnant for 5 years (hoping) most people can't afford the prices. More properties will come onto the market when the fixed rate 5 years expire that people took out just before the rate hikes.

[@samb3783]

So if they moved now they'd have to take higher rates

[@Soundmaster91]

Don't buy straight away, rent, see what areas you like to live, try Sydney and Brisbane then make a decision

[@waycam77]

yeah nah.. buy when the market is at it's lowest..

[@lewisaus]

Good video

[@sthradhervernon7654]

People, only should own 1 home this greed has to stop or this country and communities will be in deep shit in years to come, homeless people will line the streets, and your property value will plummet.No one wins.

[@m2comp369]

So where do the 2.3 million renters live? Some people rent because they can’t afford to buy whilst others simply prefer that lifestyle. How about using some gray matter before posting!!

[@sthradhervernon7654]

@m2comp369 Well, maybe the government should cap the house prices.To the lowest wage earners yearly income.That way every one can own a house, maybe they won't need to rent.I know it will never happen because there is way too much greed.For there to be a fair society.

[@1111phas5]

Great one

[@iinath98]

I wish I get a $ when i hear these people talk price prediction and it goes the other way. Been there done that. No thank you.

[@ryanpzy9336]

The worst city in Australia that's why. Labor and Dan Andrews destroyed it

[@grandiora]

You sound like a freedom fighting anti-vaxer.

[@Roxy00726]

Exactly !

[@De-tw7by]

Melbourne price will never go down.