Melbourne is set to see a double-digit residential price growth

MARKET INSIGHTS
01-Oct-2019

Melbourne’s residential market is on track to reach a double-digit price growth as soon as the beginning of next year, according to one analyst.

Louis Christopher, Managing Director of SQM Research, believes that momentum has been building in Melbourne since the Federal election in May, and is confident of the price growth – even without the stimulus of another rate cut.

There are early signs that the market is recovering – with a number of elements such as lower mortgage rates, a relaxing of credit restrictions, recent tax cuts, reduced stock on the market and a general feeling of confidence in the housing market being the main drivers of improved conditions.

With recent rising auction clearance rates there is an indication of increasing house prices, and historically this has been the case, however just how much of an upturn remains to be seen.

"At the moment, advertised stock levels are extremely low, creating some competition and urgency among buyers”, stated Christopher.

If you’re looking to sell your property, now may be a great time to list it on the market. To obtain an appraisal of how much your property is worth in today’s market please contact our team.

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

Get a free property appraisal


SUBMIT
WRITTEN BY

Stay up to date

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