[Australia  January 4 hearing] Although the recent forecast of a slowdown in the real estate industry in Australia one after another, but Melbourne’s house prices bucked the market trend, median house prices for the first time exceeded 1 million Australian dollars.

According to the “Daily Mail” reported that as the capital of Victoria, Melbourne’s median house price has reached $ 1,000,300, a substantial increase over the same period in 2017 up 27.8%.

Research by SQM Research shows that Melbourne’s home prices have hit record allures despite housing prices declining 12.6% and 10.3% respectively in November and December last year.

Louis Christopher, managing director of SQM Research, predicts Melbourne’s home prices will rise 7-12% in 2018.

Christopher said the number of newly listed properties will also increase compared with the same period of last year, reversing the slump in supply.

“Given the current high population ratio in the city, we are still very optimistic about Melbourne’s market conditions, coupled with the booming local economy, which is contributing to the price hikes in the housing market,” he said.

Christopher also said that in the expected decline in house prices, I believe more developers will choose to advance the sale of real estate. As a result, signs of a slowdown are likely to lead to an increase in the number of properties available for sale.

He said: “In the first half of this year, the market may slow down, but we think this phenomenon will not last until the second half.”

(Source: Daily Mail)

Last December, a total of 28,895 residential properties were put on sale in Melbourne, a figure that also reflected a decrease in the volume of transactions for Christmas and New Year.

As of January 2, Melbourne’s apartment median price rose 15% on average to 528,100 Australian dollars.

Median housing prices rose 11.3% over the same period last year to 567,800 Australian dollars.

The median apartment prices in Australia rose 7.9% to 374,500 Australian dollars.