Weekly Market Update 30th May 2017
By | 30th May 17

The Melbourne property market passed another Super Saturday test with flying colours again with a 77% clearance rate from 1000 auctions. The new underquoting laws are seeing more properties selling within the advertised range or just above the range as it will take a while for buyers to get used to the new quoting regime and we have seen more opportunities at the auctions we have attended.

As Buyer’s and Seller’s Advocates, we are lucky to see some brilliant waterfront properties which always attract a premium price and can often sell for premiums of 40 to 100 percent above non-waterfront properties. There are still many more affordable opportunities in outer bayside, Morning Peninsula and suburbs in the West. Read our comments in Hayley Goddard’s article here.

Melbourne has been voted the World’s most liveable city on many occasions and it also continues to lead our nation with the highest population growth across our nation, with a record 108,000 people calling Melbourne their new home in the last year. It is predicted Melbourne will keep catching up to Sydney’s population growth and will surpass Sydney and be our nation’s most populous city by 2030.

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 townhouse opportunity in Dandenong (approximately $320,000).