1 May 2013
Price recovery underway The steady performance of Melbourne’s property market continues with the auction clearance rate hitting 71 per cent last weekend. The continued momentum in the market is encouraging both buyers and sellers to make their move, and the ongoing talk about another interest rate cut is likely to spur even more activity – particularly with some analysts tipping that a rate cut could happen soon. The positive conditions have also resulted in renewed confidence in forecast price growth with a recent report from SQM Research predicting Melbourne’s housing market will achieve a price recovery of between 2 – 5 per cent this year. The report singles out the inner city for the best returns and notes that vendors are already selling with confidence in areas such as Albert Park, Port Melbourne and Toorak. It’s not too late to get your autumn sales campaign underway – call us today to hear how we can ensure your property achieves the very best result possible. Greg Hocking