Weekly Market Update 31st March 2016
By | 31st Mar 16

Your Weekly Market Update

Due to the Easter break, only a few auctions were held over the weekend however the previous weekend recorded the highest number of sales in a single Melbourne weekend with 1,230 properties changing hands. Currently we see no sign of the market slowing down with both metro and middle suburbs achieving record breaking results. To read the full article, please CLICK HERE. 

We have been seeing the popularity of the middle suburbs increasing as the demand for quality family homes increases and many buyers are being pushed to consider suburbs which were once undesirable. Many of these suburbs are now emerging as the next ‘hot’ spots with an injection of young buyers. We have long seen one of the most common trends for establishing the next trendy suburb is proximity to an already established suburbs. When buyers are priced out of that suburb they look to the neighbouring suburbs as an alternative and over time, the demographic of that suburb changes. To read more about the changing suburbs of Melbourne, please CLICK HERE.

The controversy over Melbourne following suit with other cities such as Sydney, New York and London and establishing minimum size for apartments continues. The Lord Mayor recently highlighted some proposed developments trying to receive permits through the Melbourne City council. Personally I am in favour of establishing minimum size guidelines as it will help the broader market place especially where we are seeing high concentration levels of apartment developments. To read the full article, please CLICK HERE. 

This week's video is the latest from the RAMs "The Great Australian Dream" series.