11 Jun 2014 By: Greg Hocking 0 Comment
The newly released Knight Frank Global House Price Index has listed the Australian property market as one of the top 10 markets in the world for price growth in the first quarter of 2014.
With the Australian market coming in at number seven, the report reflects the resurgent interest from offshore investors and the high levels of local buyer demand that have dominated the market for many months. Dubai topped the list with China in second place.
The mid-range forecast looks good with Justin Brown, Chairman of CBRE Residential quoted in The Age predicting Australian house prices will grow between 5-7 per cent each year for the next five years.
The high number of new listings that are coming onto the market in the early weeks of winter show that confidence in the local Melbourne market remains high. Across our network we have local, interstate and overseas buyers on our books who are all looking to purchase in the weeks ahead.
If you’re curious about the potential value of your property in the current market, contact us today for a no-obligation market appraisal.