Melbourne’s growing appetite for property

Melbourne’s growing appetite for property

26 May 2015 By: Greg Hocking 0 Comment

A new study from Roy Morgan Research shows that more than 1.3 million or 6.8 per cent of Australians are in the market to buy or build property over the next 12 months.

In Sydney, 7.8 per cent of those surveyed had the intention to buy or build, but Melbourne property was in higher demand with 8.3 per cent of respondents looking to purchase. According to the Single Source figures, this equates to 300,000 imminent buyers in the Melbourne market.

Of those Melbourne buyers, 67 per cent are looking to purchase an established property either as an investor or owner-occupier.

These findings reflect the strong levels of buyer confidence that we’ve seen all year.

Last week’s bumper auction clearance rate of 82 per cent is even more evidence that buyers are serious about making their purchasing intention a reality.

Though we’re heading into winter, there’s plenty of heat in the market. If you’ve been thinking about selling this year, call us today for an obligation-free report about recent sales in your local area.

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Greg Hocking

 

Roy Morgan Single Source: http://www.roymorgan.com/findings/6243-australia-new-or-established-property-purchase-intentions-march-2015-201505200514

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