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Melbourne City, VIC

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The City of Melbourne is a local government area centred in the city’s core business district. The Melbourne City property market is very strong and is continuing to grow. The demand for property in the area is high, as it is a prime location for businesses and commuters.

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The Melbourne City economy is a thriving metropolis with a strong focus on finance, legal services, and technological innovation. The city is home to some of the largest banks and accounting firms in the world, and it has a burgeoning startup scene. Melbourne is also a major tourist destination, with a thriving arts and culture scene.

Professionals account for 39.4 % of employment in Melbourne City, followed by managers at 14.4 %, clerical and administrative workers at 11.2 %, community and personal service workers at 11.2 %, and sales workers at 8.0 %. In Melbourne City, the typical weekly personal income for persons aged 15 years and older is $642.

Melbourne CBD is supported by a strong infrastructure, with a world-class transport system and a large number of universities and research institutions. The city is also home to a large number of multinational corporations, and it has a very skilled workforce.

In Melbourne City, 2.9 % of occupied private residences are detached houses, 12.7 % are semi-detached, row or terrace houses, townhouses, or other buildings, 83.4 % are flats or apartments, and 0.3 % are other dwellings.

The Melbourne CBD property market is expected to continue to grow in the coming years. The population of the area is increasing, and the economy is strong. This means that the demand for property in the Melbourne CBD is likely to continue to increase, and that prices will continue to rise.

Discover the latest trends for Inner Melbourne suburbs with the help of interactive dashboard on this page.

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Suburb Heatmap Analysis

Property Market Snapshot

This page provides an overview of the LGA real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this council area. You are able to drill down to suburb-level data and charts which visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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Property Market in Melbourne City, VIC

What other property markets are there near Melbourne City, VIC?

Melbourne City is surrounded by 7 other council areas – Port Phillip, Maribyrnong, Stonnington, Hobsons Bay, Yarra, Moreland, Moonee Valley.

How many people live in Melbourne City, VIC?

There are approximately 135000 people living in roughly 76000 dwellings in total, with an average household size of 2.

What are current and planned infrastructure projects in Melbourne City, VIC?

Notable infrastructure projects include City Road Master Plan, Kensington Community Aquatic and Recreation Centre redevelopment, Lonsdale Street Greek Precinct greening, Queen Victoria Market Precinct Renewal.

What major retailers are there in Melbourne City, VIC?

The main retail centres are Bourke Street Mall, Galleria Melbourne, Melbourne Central Shopping Centre, Emporium Melbourne, The Strand Melbourne, Midtown Melbourne, The Block Arcade, St. Collins Lane, David Jones – Bourke Street Mall, Harrolds.

What is the main industry in Melbourne City, VIC?

Such sectors as Professional, Scientific & Technical Services, Financial & Insurance Services, Public Administration & Safety, Health Care & Social Assistance make up the largest part of the employment.

What are the dominant demographic groups in Melbourne City, VIC?

Among approximately 135000 people in Melbourne City males and females make roughly 49% and 51% respectively. The median age of people is 28 years. Children aged 0-14 years account for approximately 6% of the population, and those aged 65+ years account for 7%.

How is unemployment rate trending in Melbourne City, VIC?

Among approximately 73000 people employed, roughly 57% work full-time, 28% work part-time, and an estimated 11% are unemployed.

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