Melbourne
Melbourne is the capital city of Victoria, and Australia’s second-largest city.
The Lewis Valuation + Advisory team services the greater Melbourne Region, from Geelong in the west to Shepparton in the north, and south to the Mornington Peninsula, providing commercial, residential, NDIS and specialised valuations and advice.
Some of the key assignments our senior valuers from the Melbourne office have completed include:
– Development valuation for an 89-place retirement village located in Shepparton
– Industrial development site in Geelong
– Tuckers Funeral Service Crematorium
– Completion of more than 200 NDIS valuations of both units and dwellings
Melbourne’s commercial real estate sector has experienced a dynamic transformation in recent quarters.
Navigating the dynamic landscape of Melbourne’s commercial property market requires a deep understanding of the factors that influence property values.
Melbourne’s commercial market fundamentals remain strong, with continued appeal to both domestic and international investors. The strategic significance of the city’s assets, along with the ongoing demand in logistics and premium property sectors, positions Melbourne for a promising finish to the year. With investor confidence growing, the market is poised for selective, sustainable growth heading into 2025.
Melbourne house prices outperformed units throughout the rebound, though that dynamic has been shifting. Units and more affordable houses could now be well-placed to deliver stronger gains into 2025.
Units and entry-level houses are expected to appeal further to incoming investors and first home buyers as immigration has ramped up significantly, bringing additional demand to the rental market in particular.
Over the last four decades, Melbourne has been Australia’s strongest performing housing market; however, over the last couple of years it has underperformed.
In fact, over the last 12 months dwelling prices have been basically stagnant, while many other capital cities enjoyed double digit capital growth.
Melbourne’s property values have risen 8.4% since the onset of Covid, but are still -6.4% below their peak of March 2022 and they fell-0.7% in December.
However, market sentiment has improved now that interest rates have started to move lower and Melbourne house prices rebounded in the last weeks of February, reversing the soft trends over the last few months.