Melbourne property market predictions 2024 – House price & rental forecast

Experts spoke to The Property Tribune, laying out their thoughts for what’s in store for Melbourne’s housing and rental market in 2024.

Melbourne’s rental market is ‘fundamentally broken’

According to the latest Rental Affordability Index, an average Melbourne rental property costs 24% of a household’s $108,955 income.

Australia’s real estate market to see a sustained upswing through next year

Report author Julian Coppini says land prices continue to increase in some markets – boosted, in part, by large and growing housing shortages.

RBA’s cash rate hike casts shadow on home building in Sydney and Melbourne

Leading indicators signal significant slowdown in home building activity, with approvals and lending hitting decade lows in 2023.

Australian property market supply deficit could be eased by granny flats

The addition of granny flat units to dwellings across Australia’s three largest capital cities could potentially ease the housing shortage.

Demand for premium offices keeping the Melbourne leasing market positive

Net absorption for the city fringe was 42,000 sqm, while metro office was 4,000 sqm.

Victorian housing market’s 20 best investment suburbs for new houses in 2023 revealed

Many sister suburbs to major regional hubs featured.

Melbourne’s famous retail strips are back in business: Vacancy rates hit long-term lows

While shopping strips performed well last year, vacancy rates dropped further to 6.2%.

Melbourne’s four most sought-after outer-city commercial hubs

Businesses are moving into Melbourne’s outer ring, allured by low prices, spaciousness, infrastructure and amenities.

South Yarra retail property available for the first time in four decades

Located at 131 Toorak Road, the property has been tenanted by a renowned florist for over twenty years.

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.