Melbourne home owners are in for a great Christmas gift, with the property market tipped to be back to peak values by then..
"On the current trajectory, the market has recovered ... we are pretty
much there now ... and if we see another quarter like we have just seen,
Melbourne will be at a new peak very soon."
Despite recent job cuts across Victoria, Melbourne's diverse economy
will shelter the market from the workforce losses in manufacturing.
"The labour force is going to be softening, but at least Melbourne doesn't have as much exposure to resources like Perth and Darwin"
Early signs indicate Melbourne will have had a 2.5 per cent growth in values over the month of July
"A full market recovery by the end of the year wouldn't surprise me"
"My advice for anyone looking to purchase a property over the coming months is to arm yourself with information,"
The Commonwealth Bank-RP Data Home Buyers Index notes a rise in the number of home loan applications compared with properties listed for sale, hinting there is less room for home buyers to negotiate on prices, particularly in outer Melbourne - fringe suburbs like Epping, Cranbourne and Melton top the list, meaning those looking to buy in the more affordable areas of the market will struggle to succeed with lower offers as the demand rises.
For full article, click here
No comments:
Post a Comment