Property Market Update 11th & 12th June
By | 16th Jun 16

Property Market Update 11th & 12th June 2016

The Melbourne clearance rate was 70% with only 300 homes being auctioned due to the long weekend. There were once again some record breaking results including 83 Fulham Road, Alphington a five bedroom modern family home sold under the hammer for a new suburb record of $2,840,000. 1,2 & 3/496 Gilbert Road, Preston comprising three town residences on 813sqm of land sold for $1,520,000. Another strong result was achieved in Seaford with 93 Kirkwood Avenue an original condition cream brick home selling with eight bidders fighting it out for $672,000. To read more about how the Melbourne property market performed over the weekend and some of the excellent results achieved, please CLICK HERE.

We have continued to see owners joining forces to combine their property sales as is the case in Cheltenham currently where nine property owners are selling what will be a combined site of 4715sqm of land with prime development potential and we look forward to seeing if the agents predicted $9 million sale price is achieved. To read the full article on this upcoming Cheltenham sale please CLICK HERE.

The debate over proposed changes to negative gearing continues in the lead up to the election. We were quoted in the Herald Sun over the weekend after our client Chad Lewis commented that the proposed changes may be the best way to give first home buyers a fair go in the property market. It has long been my recommendation to many of my clients, as was the case with Chad, to buy an investment property where he could afford to purchase and rent where he wanted to live. This has been a trend we have continued to see as more and more buyers are priced out of certain suburbs. To read the full article and our comments, please CLICK HERE.

Visit our website www.advantageproperty.com.au and you can also find information about our popular Buyers Advocate, Vendors advocate, Property Management and Owners Corporation Services. Please also click on the video icon above to listen to our latest video update.