Confident and clever buyers to reap rewards
Melbourne’s housing market is beginning to show signs of recovery with prices increasing by 2.5% in the 3 months to August according to a report released by RP Data.
Leading buyers advocate Cameron Deal from Infolio Property Advisors says that while Victorian property prices are still relatively flat compared to the same time last year, there is room for continued growth and encourages buyers to take advantage of the favourable buying conditions this spring.
A buyers' market
“We are expecting to see the volume of homes on the market lift to around $70 million in value per week over October and November. Buyers are already showing more interest as they see an increase in properties available to them.
“This increase in listings is a good indication of buyer confidence and will result in less competition and more choice for buyers, creating 2nd and 3rd options in their property hunt.
“This coupled with the softer house prices we are currently experiencing creates great buying conditions. It’s the time in the market, not timing the market that counts. Buying now in the right areas will see you prosper in the future from your decision to act,” says Deal.
Inner and mid belt family homes to perform well
Investors and homebuyers should be looking for homes located within the inner to mid belt of the city, according to Deal.
“Astute investors should be looking in established areas like Kew East, Collingwood, Carlton, Fitzroy, Coburg North, Hawthorn East, Glen Iris, Oakleigh and Macleod”.
“This type of housing stock is well insulated from the current oversupply of new apartment developments in inner as well as the further expected correction in the $2m+ housing stock,” says Deal.
“These inner and mid belt areas can prove to be an excellent return on investment for both investors and owner-occupiers. Those purchasing to build their investment portfolio should expect to see consistent rental returns and low vacancy periods, whereas owner-occupiers can have confidence that their home will experience strong capital growth.”
Infolio Property Advisors will be running a free seminar featuring an expert panel that all Property Observer readers are invited to attend. “Buy Property Like A Professional” will be held on October 2, at The Point Albert Park, Melbourne. Go to the infolio website for more information www.infolio.com.au
Infolio Property Advisors is a group of experienced buyers advocates, vendor advocates & property managers that can source and negotiate on your behalf to secure your dream home or investment property; help you to achieve the most value when buying or selling; or securely manage your rental property by matching the right tenants with the right home.
If you are in the market to buy a property, we will find it. If you’re looking to sell a property, we can select the best performing agents and negotiate with them on your behalf. We can also help you to plan a longer term investment strategy to match your lifestyle using our market awareness and industry experience built over many years; and we can even help you to add extra value to your home or investment property by managing a refreshing renovation.
P: 0411 037 109