9 Jul 2014 By: Greg Hocking 0 Comment
There’s been a spate of interesting figures released recently that highlight the strength of Melbourne’s property market so far this year.
As I’ve mentioned previously, the auction market has had a stellar year with the REIV announcing $9.8 billion of residential property has been sold at auction in the first half of 2014. This is a staggering 41 per cent rise on the same period last year and is well above the last market peak of $8.9 billion in 2010.
Not surprisingly, this has translated into significant price growth for 9 out of 10 suburbs according to RP Data with media headlines declaring 90 per cent of Melbourne suburbs saw a rise in property values over the last 12 months. The Herald Sun cites Middle Park as the stand out performer with a 43.2 per cent or $579,800 increase.
Melbourne has also assumed a dominant position online as ‘red-hot sellers’ state’ according to realestate.com.au with Albert Park named Australia’s ‘hottest suburb in demand’ for attracting the most attention online.
That’s good news all round for Melbourne sellers. If you’re ready to talk about the potential sale of your property, call us today to hear how we can make sure you get the most from the market.