Our Backyard – Aireys Inlet

MELBOURNE LEADING CITY RECOVERY

The increased sales activity we have seen on the coast in the past few months is evidenced by recent activity in the Melbourne market and other capital cities.

There is new consensus among real estate data companies that most capital city markets and market segments are seeing the fastest price growth since the government-stimulated home price boom of 2009-10.

Melbourne is the leader of the pack. Figures released on Friday by Australian Property Monitors show Melbourne recorded the strongest result of all the capitals over the June quarter, with home prices up by 5% and unit prices up 3.7%. Its findings support Real Estate Institute of Victoria (REIV) figures released a week ago that suggest the median Melbourne house price has risen to a new peak of $562,000, but at a more moderate rate of 2.4%.

Fairfax-owned APM said the national housing market recorded its best result in three years with most markets at or near record highs in the June quarter. National median house prices rose strongly by 2.8% over the quarter – the third consecutive rise.

Saturday’s auction clearance rate was 72% from the 465 auctions reported to the REIV.

REIV spokesman, Robert Larocca, said that the year-to-date clearance rate was running at 70%.

Feature Properties

44 Aireys Street, Aireys Inlet

9 Boyd Avenue, Moggs Creek

JamesPortraitforweeklyblog19.05.12.jpg

JAMES WORSSAM

mobile: 0418 585 815

james@greatoceanroadrealestate.com.au

Leave a Reply

Your email address will not be published. Required fields are marked *