Melbourne house prices static

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Melbourne property prices experienced another month of near zero growth in August, with the market putting in its second weakest performance of the year.

Analyst Residex reported that Melbourne house values rose just 0.33 per cent last month (apartment values fell1.03 per cent).

That was only marginally better than the 0.27 per cent growth in house values recorded in May, when the market was commonly said to have ‘‘turned’’ after Anzac Day.

Residex chief executive John Edwards said Melbourne’s market peaked in April when the growth rate hit 3.2 per cent in a single month, declining steadily but not uniformly since then. – Click here for the rest of the article (Source: Insight Property Website)

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