Buyers Agent Weekly Property Report 28th June
By | 27th Jun 16

Buyers Agent Weekly Property Report

The world wide economy is a buzz as the United Kingdom leaves the European Union, however it was not felt in Melbourne as close to 900 properties went to auction and our clearance rate remained consistent at 70%. There were some big results achieved including 32 George Street, Reservoir, the 4 bedroom home on 1,001 sqm of land sold for $1,350,000. 16 Glyndebourne Avenue, Toorak a 2 bedroom home on 400sqm of land sold for $1,950,000. 5 Melva Court, Frankston an original condition home on 789sqm block which sold under the hammer for $585,000, well above our investor client’s budget. CLICK HERE to read some of our comments made in this week’s Herald Sun.

Many have made predictions of the effect the upcoming election will have on the Melbourne property market. It would appear this election there have been many proposed changes which could potentially affect not just investors but the greater property market including every day Mum and Dad home owners. To read a breakdown of some of the proposed budgetary changes, CLICK HERE. 

Melbourne’s population is predicted to overtake Sydney by 2040 and it would appear we are on track to fulfil this prediction. The Herald Sun recently published an article outlining that the Victorian population had increased by 109,800 in the past year alone with our population now over 4.5 million people. This consistent increase should be no surprise to those who have been following the property market as we have seen this population increase have a flow on effect to the housing market, especially with the demand of family homes where demand is greater than the supply. To read more about our growth, please CLICK HERE. 

As another financial year comes to an end, we hope this has been a successful year for you and your family.