Melbourne Property Market Update - August

Melbourne Property Market Update
First home buyers not impacted by offshore investors

There has been much discussion surrounding the lingering concern of the impact of offshore investment on first home buyers, much of which is not necessary.

According to Mr Haslem from the UBS, majority of first home buyers buy established, rather than new, dwellings for an average price of $328,000, far below the price point for most foreign purchasers.

With more and more jobs in the city, young professionals are looking to move into established apartments in the CBD or surrounding suburbs. Melcorp Property has a number of listings available in both the CBD and Southbank in some of Melbourne’s newest residential towers.

To enquire, call or visit Melcorp Property at any of our convenient locations.