Melbourne is having a party time in its real estate market. The low-supply suburbs and their A-grade houses are attracting a lot of buyers. Properties that are renovated or good to go after renovation are catching most buyers’ interest. Even though issues such as Brexit referendum or the federal elections are lurking around, yet the one point that supersedes these negative is the availability of good property in greater abundance as compared to northern continents. As a result, Buyers who should be hesitating are zealously taking part in the auctions. As a matter of fact, Melbourne’s real estate is so raging that it is getting difficult for quality property to match with the bidders.
All this is due to a number of factors. The cost of borrowing is currently low and a number of good properties is decreasing rapidly. Other reasons going in favour of Melbourne’s hot real estate market are the owners and occupiers who are all determined to buy the house properties costing a million or less. Adding to all this, it is also being anticipated that the later part of June to the month of August is a period that may experience a low pace or halt in the listings. According to the crystal ball reading by the experts, due to vacations, which are about to start in the end week of June, the auctions are likely to lose pace for some period after that.
So, if the Melbourne Real Estate market is where you are thinking of investing in, now is the best time. For more updates on Real Estate matters, stay tuned to Steven Macaw’s blog.