A paradigm shift in the Southbank property market

MARKET INSIGHTS
02-Jun-2017

Melcorp Real Estate, one of Southbank’s leading agencies, has been servicing inner Melbourne for over a decade, with a network of offices across Southbank and Melbourne’s CBD. In that time Melcorp has built a reputation for dealing in quality real estate.

Melcorp Real Estate reports an increasing demand in the Southbank apartment market. In 2017 the Southbank property market has shown an upward shift, with median apartment dwelling prices up by 4.55% over the last year as reported by Corelogic. Prices are now significantly higher than the CBD.

Southbank’s residential property has grown by 12.5% since 2015, boosted by over 1,700 people moving to Melbourne every single week of the year. Now there are simply not enough homes to cater to the number of residents wanting to live in or close to the city. 

With 31 sales reported in Southbank in April, the inventory is low and the demand is high. There has been a strong demand from buyers, 48.7% being independent youths, moving to Southbank for all the lifestyle benefits and the enviable location being close to the CBD.

Melcorp Real Estate’s Southbank specialist Aisha Coe stated: “multi- purpose properties are becoming a trend within Southbank, with many purchasers using their properties as weekend homes with the hope that their children in the future will move in for access to universities or work.”

Melcorp Real Estate has a strong rental presence, having leased over 300 apartments in the last three months in Southbank and the CBD. The Southbank leasing market is strong with a high demand of apartments for lease and low inventory, enabling top rental prices and a median gross yield of 4.9%. Now, the average rental rate in Southbank is higher than the CBD.

Your local Southbank specialists, Aisha Çoe and Sergio Lopez have built an in-depth knowledge of the Southbank property market and have a wealth of experience with over 20 years in Real Estate between them. 

If you are thinking of selling, Sergio and Aisha believe that you need an agent who is up to date with what the market is achieving and what is going on in the area.

“How this is going to impact you as a client, to elevate your property over the competition and make the process as smooth as possible,” Sergio said.

“Any agent can tell you they can sell your property, but can they show you their success. Our knowledge and results speak for themselves.”

With Melcorp Real Estate leading the market in quality Southbank sales and rentals, people who have their fingers on the pulse should call Sergio and Aisha on +61 3 9696 8869.

 

 

 

 

Share This  Author's Facebook Page   Author's Twitter Page

Stay up to date

Enter your email address to keep up with all the latest Melcorp news