7 August 2013

Melbourne´s Price Recovery Surge The good news surrounding Melbourne´s property market continues with a story published in The Age last week that reported Melbourne was leading Australia in terms of rising property prices based on recent Australian Property Monitors (APM) figures. According to the APM data, the national real estate market recorded its best result in three years in the June quarter and Melbourne median house prices were up 5 per cent and apartments by 3.7 per cent. Clearance rates also continue to head upwards, with the REIV reporting a clearance rate of 74 per cent for the 515 auctions held in Melbourne last weekend. The solid clearance rates reflect the growing competition amongst buyers across all price categories for good quality properties. With the election date now set and the start of spring just a few weeks away, we can expect to see motivated buyers and sellers acting decisively in the weeks ahead. If you´re ready to make your next property move, call us today.

Greg Hocking