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Melbourne posts property value growth in April

By Jamil Allouche

Despite a general slowdown of property value growth nationwide, Melbourne's real estate market has remained one of the strongest in Australia. 

The latest CoreLogic RP Data Home Value Index for April recorded a 0.8 per cent increase in property prices over the month, putting the median value at $555,000. 

CoreLogic RP Data head of research Tim Lawless said much of this strength came from the official cash rate cuts seen in February 2015, which provided Sydney and Melbourne with a "second wind". This has been reflected in growing capital gains, as well as an increase in auction clearance results and private treaty sales. 

Furthermore, Melbourne's real estate values following the global financial crisis could also be worth noting for anyone interested in selling real estate in Brunswick in the near future. 

Dwelling values have risen to a level 52.3 per cent higher than before the crisis, recording a 10.6 per cent increase over the last 12 months alone. 

In contrast, rental levels have dropped. Melbourne's current rental yield is resting at just 3.2 per cent as a lower, more sustainable level of growth in the coming months. 

If you're interested in selling your Brunswick home, now could be a great time to get in touch with a local agent. 

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