WEEKLY MARKET UPDATE - 18TH JANUARY 2017
By | 18th Jan 17

Your weekly property update.

WATCH: Finance Tips - Game Changing Credit Policy Changes by Mario Borg

Many Melbournians recently enjoyed their holidays in Melbourne’s coastal suburbs which are getting busier and in much stronger demand. The improvements in infrastructure such as freeways like the Peninsula Link and East Link have made these areas more accessible to many Melbournians.  Coastal areas dropped in value after the GFC but now there has been a huge pick up in values in areas such as McCrae, Dromana and Rosebud and we have recently seen knockdown houses on average size blocks in Rosebud now sell for over $700,000.

There is always much speculation about where the market is headed at the start of any year and this year is no different. Interest rate movements always have a big impact on the performance of our property market and when eight chief economists were interviewed recently, none expected interest rates to increase this year and three expecting them to drop a number of times further. This should contribute to our housing markets continuing their solid performance this year.

There have been many rumours circling regarding The Block purchasing the iconic Gatwick Hotel in Fitzroy Street, St Kilda. This would be exciting news for our clients as the location would be the best blue chip location of any of the eight Melbourne series of The Block we have bid on previously. Though there are also whispers that The Block has purchased a site in a neighbouring blue chip suburb.  Watch this space for more information in the future!

 Please don’t hesitate to visit our website www.advantageproperty.com.au or contact us regarding our popular Buyer’s Advocate, Vendor Advocacy, Property Management, Owner’s Corporation services and Group Block Purchases. Don’t miss our first Investor’s Club meeting on Thursday February 23rd where I will be presenting with a number of other great speakers. Click here to book your complimentary seat now but be quick as places are limited and sold out last year. Also, I look forward to presenting at the Melbourne Property Expo from Friday 24th to Sunday 26th February. We will be able to offer a limited number of discounted tickets and will provide details in the next few weeks.