What’s Happening In The Melbourne Property Market?

Hi guys!

Naomi Findlay here, your Rapid Renovation expert.

What’s happening in the market is always a hot topic. I was lucky enough to sit down with Mark Kentwell, principal at PRD Nationwide Newcastle and Lake Macquarie, to hear exactly what is happening in the Melbourne property market.

Disclaimer: All information contained herein is gathered from sources we deem reliable. However PRDnationwide cannot guarantee its accuracy and act as a messenger only in passing on the details. Interested parties should rely on their own enquiries.

Key Points:

• Growth in Melbourne has been very strong in the city and surrounding suburbs for the past years.
• There has been an exit of a large percentage of Chinese buyers that were paying big money, as a result appartments are not selling as quick. A lot more investor networks are being used to sell appartments now, and therefore buyers are receiving proximity, fantastic offerings, and property that is not easily replicated.
• Melbourne has growth drivers, including: population, education, easy access in and out of the city, sport, and the liveability.
• The Melbourne property market has had a big run, the same growth is not expected but a lot of suburbs will still have single digit growth.

Disclaimer: All information contained herein is gathered from sources we deem reliable. However PRDnationwide cannot guarantee its accuracy and act as a messenger only in passing on the details. Interested parties should rely on their own enquiries.