Is Melbourne The Property Problem Child?

You may recall that I often say, there is not one property market but many micro markets that behave in quite different ways. But at the capital city level, Melbourne appears to be in some strife in terms of price falls at the moment. Overall, it certainly looks like the combined impact of state policy, higher interest rates, and also bad planning decisions, combined with significant interstate migration away from Melbourne, which is offsetting still too high net overseas migration, is translating into property weakness. That said, of course property still remains over expensive relative to income to a stupid […]