WEEKLY MARKET UPDATE 1st MAY 2017
By | 1st May 17

The Melbourne market continues to perform solidly with a clearance rate of 78% from a smaller volume of only 585 auctions. The outer suburbs continue to see really strong growth and are actually outperforming the inner suburbs as was shown in the recent article by Scott Carbine we were quoted in. Click here to read article. It showed that many of the outer suburbs are having the highest growth whereas ten years ago, you would have seen all the inner suburbs having the highest capital growth. Melbourne demand continues to ripple outwards as buyers get priced out of the more expensive inner suburbs.

There are many “Hot Spot” areas that we are focusing on when buying houses for clients and in a recent article we were quoted in showing that the middle North and West suburbs where we purchase regularly for investors are getting some strong growth. “Hot Spot” areas like Ardeer, Thomastown, Lalor and Fawkner are becoming more and more popular and much more in demand. See article for more information. 

There is plenty of news around The Block again with a Block Glasshouse apartment that was sold for $1,725,000 a few years ago as the challenger apartment, just recently sold for a very strong result of $2,275,000, $500,000 above what it sold for last time. Another very positive result was achieved by The Block winning the Logies for the 5th year running for the best reality TV series. We are very excited with the opportunity to lease out Luke and Ebony’s Blocktagon apartment again for our investor client, currently available to lease for $1,900 per week, fully furnished. So, if you know anyone that wants to live in a Block apartment this is the apartment that almost won the series as they just missed out.

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 Hampton East (approximately $420,000) and Kingsville (approximately $420,000). Also, don't forget about our Investor's Club meeting next Thursday May 11th. Click here to RSVP