MENU
LEASE
ABOUT US
MENU
-
-
-
-
ABOUT US
-
NEWSLETTER
There has been a sense of urgency in the property market this past month, with a number of factors energizing buyers and the market as a whole. Now, Melbourne property prices are set to break record highs in the early months of 2020.
While many property owners have been cautiously waiting and watching after steady declines in the market over the last two years, the previous quarter has demonstrated consistent growth. Industry analysts are predicting that continued growth through to January will see the Melbourne market hit the point of ‘recovery’.
Predictions for continued growth into 2020 have been bolstered by significant incentives for first homebuyers, more buyers obtaining increased borrowing capacity from banks and continuously low interest rates which show no sign of climbing.
On a whole, these factors are instilling confidence in buyers, which is evidenced by the strong auction clearance rates and average days on market. We continue to experience a growth in the number of buyers inspecting property with steady foot traffic through all properties.
Owners of properties at the top end of the market however, have generally been more conservative and have continued to hold. This has led to increased demand for large family homes and premium properties which is evidenced, by the strong growth in the suburbs of Beaumaris (20.1%), Camberwell (16.1%) and Balwyn North (12.8%) in the last quarter alone.
With low stock levels spurring the uplift in the market, owners have been welcoming these insights and we hope you have too.
You might also be interested in
Thinking to the future |
Simple DIY projects to increase your homes value
Apr 26, 2023
Not only are DIY projects cost-effective, but they can also be a fun and rewarding way to enhance your home's value and transform it into a space you love spending time in. Whether you're planning to
Thinking to the future |
Stamp Duty to Be Abolished
May 18, 2020
Experts, industry figures and politicians are asking questions about the suitability of stamp duty in a post-COVID-19 economy. The pressing issue being that the revenue stamp duty generates dep