Weekly Market Update - 20th April 2017
By | 20th Apr 17

Melbourne’s property market took a breather for the Easter long weekend with a small volume of 124 auctions and a consistent clearance rate of 83%. We continue to pick up some great “off market” opportunities and we bought eight properties in twenty four hours without auction competition in many of our “Hot Spot” suburbs including Frankston, Reservoir and Albion for our investor clients.

Much has been recently said about the influence that investors are having on our market place with 50% of all purchases now being made by investors. There has been much commentary about the impact of overseas investors but we are also assisting an increasing number of interstate investors, with many Sydney investors seeing Melbourne as a much more affordable and better value-for-money proposition.

There are always many commentators making predictions about our property market, including doomsayers Jordan Wirsz and Harry Dent who a few years ago predicted that Melbourne prices would drop by 40-50%. They got it horribly wrong again as house prices have increased by around 50% on average in most Melbourne suburbs.

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, including our future opportunity in Fawkner.