News

The latest happenings in the Melbourne property market. For our Essays and The Secret Agent Report, see our Research page.


Category Archives For: Melbourne Real Estate News

The Secret Agent Report: State of Apartments

We have just released our latest Secret Agent report!

“There is now around one occupied apartment for every five occupied separate houses in Australia – compared with one to every seven, back in 1991.” (ABS, 2017)

Apartments are increasingly popular living options for owner occupiers and tenants alike. They are located in some of the best positions, close to schools, transport, work and lifestyle precincts. They are well suited to a variety of audiences, from young professionals entering the property market to retirees looking to downsize, to office workers who want to cut down on transport time, to students who want to reside close to university.

In this report, Secret Agent will take a look at the state of the apartment market in Melbourne and Australia in general.

Access the State of Apartments report now!


The Secret Agent Report: Generation Z

We have just released our latest Secret Agent report!

They are the latest generation to enter our property market. Generation Z, or those born between 1995 and 2010, are coming of age and many of them will begin their property experience as renters, investors and home owners over the next few years.

For this report Secret Agent decided to take a look at this particular generation in order to get a better idea of their preferences and what this may mean for other buyers and sellers alike.

Access the Generation Z report now!


The Secret Agent Report: Unique Subdivisions

We have just released our latest Secret Agent report!

A subdivision refers to an area of land that has been divided into separate lots. In this report, Secret Agent wanted to investigate whether different shaped subdivisions have an impact on the sale price of a property. 

The subdivisions in the suburbs we looked at for this report date back to the original founding of Melbourne. The shape of these subdivisions have a wonderful aesthetic from a bird’s eye view and break the grid like structure that is so common in Melbourne. These subdivisions have an elite European feel to them and perhaps reveal a lot about the early power structures within Melbourne society. 

Access the Unique Subdivisions report now!


The Secret Agent Report: EOY Review 2017

We have just released our latest Secret Agent report!

2017 saw remarkable shifts in how investors pick what to invest in and when.

This month, Secret Agent recaps the year of inner Melbourne property in 2017. We review the performance of houses, townhouses and apartments and highlight the best performing suburbs.

Access the EOY 2017 report now!


The Secret Agent Report – Elevation

We have just released our latest Secret Agent report!

This month, Secret Agent investigates how a property’s elevation above sea level influences its price.

The suburbs analysed include: Albert Park, Middle Park, Carlton North, Princes Hill, East Melbourne, South Yarra, North Melbourne, Ivanhoe, Eaglemont, Toorak, Essendon and Hawthorn.

Access the Elevation report now!


The Secret Agent Report – Artificial Intelligence in Property

We have just released our latest Secret Agent report!

This month, Secret Agent takes a closer look at artificial intelligence, with a focus on property prices in Melbourne. By examining regression and classification methods, we use machine learning to discover trends and patterns in data.

Access the Artificial Intelligence report now!


Investment Returns for Inner Melbourne

In Secret Agent’s latest Rent report we took a detailed look into the yield of each inner Melbourne suburb. See Table 1.

An investor should be looking to try and maximise yield when finding a rental property. However, they also need to be mindful of the relationship between yield and risk.

Often a higher yield can mean more risk, such as oversupply.

The higher yield of inner Melbourne (5.3%) reflects the greater risk premium. East Melbourne which offers a tight yield of 3.47% is the ultimate blue chip location, however the yield isn’t too attractive.

Be careful of looking solely at yield to making investment decisions. It’s possible to obtain yields above 10% in remote regional locations, but once a tenant has vacated, it may be a long time before another tenant is discovered.

Table containing investment returns of inner Melbourne suburbs


Carlton North Homes Benefit from Bicycle Lanes

Drawing of a bicycle with a speech bubble containing a dollar sign next to it

Over 10,000 cyclists commute into Melbourne’s inner city every morning. Many popular routes are located along residential streets. Secret Agent wanted to find out if the presence of a bicycle lane had any impact on house sale prices within a suburb.  Read the full post


Price Per Square Metre of Melbourne Penthouse Apartments

Open plan living room of Melbourne penthouse apartment

Melbourne penthouse apartment, realestate.com.au

This week, Secret Agent takes a closer look at the price per square metre of Melbourne penthouse apartments.

Besides occupying the top floor of a medium to high rise building, for an apartment to be considered a penthouse, it also had to have a distinguished floor plan.

Out of 1,908 apartments sold around inner Melbourne since January 2016 to May 2017, there were only 21 penthouse apartments. All of these were new, post-90s builds except for 2 warehouse conversions. These penthouses were concentrated around the CBD, inner East and inner South suburbs.

Note that our results were skewed towards the sub-$3 million penthouse market, as information on apartments sold above this value is generally less accessible. Most of the apartments in our study are not whole-level penthouses.

Suburb Penthouses Non-Penthouses
Average sale price $1,739,048 $590,655
Average overall PPSM** $11,076 $8,724
Average PPSM for 2 bed $11,544* $8,669
Average PPSM for 3 bed $11,132 $8,877
Average PPSM for 4 bed $10,187* $10,138
     
Median internal area for 2 bedrooms 139sqm* 69sqm
Median internal area for 3 bedrooms 157sqm 118sqm
Median internal area for 4 bedrooms 192sqm* 198sqm
Median outdoor area 47sqm 7.5sqm

* Based on less than 5 sales,  ** PPSM refers to price per internal square metre

Table 1   Average prices per square metre and median sizes in penthouses versus non-penthouses around inner Melbourne

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