News

March Melbourne Property Market Update

The Melbourne property market is proving very investor friendly with recent RBA cuts and significant activity from the rental market in the first quarter of 2015.

The RBA has maintained a lower interest rate since it was dropped in February. This has fuelled an already active investor market, offering those looking to invest in property an opportunity to do so at a cheaper rate.

RP Data’s 2014 September Quarter Rental Review suggested that investors are looking to maximise capital gains at the expense of rental income due to the rising house and apartment prices which as continued into 2015. Despite this, savvy investors have an opportunity to achieve low vacancy rates and good rental incomes maximising not only capital gains but rental income also.

Currently, Melcorp are achieving a vacancy rate of less than 1% in two iconic Melbourne towers, Prima Pearl and Abode318. We have leased almost 500 apartments in both towers over the last 6 months delivering good rental returns to our clients. We are also achieving below market average ‘days on market’ for all rental properties we manage, meaning our clients properties are vacant for less time than the market average.

If you looking to purchase a rental property please contact Melcorp on 9663 1117 or info@melcorp.com.au, we are happy to help you purchase and lease your property.