Our Backyard – Aireys Inlet

Welcome to Aireys Inlet.

GENERAL MARKET ROUND-UP

Last week I was fortunate enough to be able to attend the Victorian Real Estate Institute annual conference and with over 1,000 delegates in attendance it was a great opportunity to get a state wide perspective of the market.  What was very interesting to me, being what I was hearing being so similar to the coast, is that volumes of transactions had increased marginally but without any real upward movement in price.  In fact to the contrary where volumes of transactions were being stimulated by a realignment of vendor expectations and competition slowly returning on the back of what I will call the ‘Big Three’.

1.  The completion of the Federal Election and Government firmly entrenched for the next three years.

2.  The Melbourne residential auction market enjoying clearance rates of between 75 and 85% over the last six months.

3.  Interest staying steady with the Reserve Bank cash rate still at 2.5% and our banks starting to ‘loosen up’ and lend a little more freely.

James.jpg

James Worssam

0418 585 815

james@greatoceanroadrealestate.com.au

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