Market Update 4th February
By Advantage Property | 4th Feb 20
Our buoyant housing market is defying the economy, there is definitely more demand for buyers as mortgages are up 19% compared to a year ago. First home buyers now need to push themselves and have an average loan amount of $460,000.
There continues to be some solid results in the Melbourne market place. There were 8 bidders who bid for a run down place in Frankston. A flipper who was going to renovate and on sell. They beat a number of other investors to the keys. There was also a big result in Beaumaris where a Beach box sold for $100,000 above reserve. There are only a couple of Beach boxes in this section at Rickets Point.