Looking to buy in this Autumn? Well, it’s time to look sharp, as several new factors coming together make for a competitive market.
Firstly, the RBA has cut the official interest rate to a record low of 0.5 per cent, and banks are passing these savings on to their customers. Buyers are looking to maximise their borrowing power to secure themselves their dream property.
Prices are increasing, if somewhat unevenly, after last year’s slow down. Properties in some of Melbourne’s coveted inner suburbs are recording more capital growth than the household earns in wages, particularly in areas such as St Kilda. Now that’s something to look forward to – coming home to a house that earned more than you did that day!
Port Melbourne was the top growth suburb for houses in the past quarter, with a whopping increase of 28.4% in sales prices. With the beach on one side and the city on the other, it’s not hard to see why this desirable suburb is seeing a surge in prices, and why we love to be a part of this community.
And finally – last week’s auction clearance rate was 81%, a huge increase on last winters doldrums and a great sign that you’d better have that chequebook ready in the coming weeks if you want to beat the competition.
Over the next few weekends Cayzer has on offer: a fantastic Port Melbourne penthouse apartment with has-to-be-seen rooftop garden:
A magnificent classic Middle Park home on a huge block, with soaring ceilings and an outdoor pool area to die for:
An Edwardian Albert Park double-fronted brick property with immaculate contemporary outdoor-indoor living:
A perfect beachside apartment in a coveted block with pool:
And a quirky former Albert Park shop with light-filled living, walking distance to the village:
See you at the Auction!
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