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APM: Melbourne Property Value Increases Over June Quarter

Now could be the perfect time to sell your Carnegie real estate, as the latest House Price report from the Australian Property Monitors (APM) indicates that house prices are at a record high after a strong June quarter.

House prices have grown by 2.8 per cent across the nation, which has been spurred on largely by rising buyer confidence coupled with the lowest interest rates in a long time.

House prices in Melbourne increased by a strong five per cent over the quarter, while the price for units rose by 3.7 per cent – increasing for the third consecutive quarter in a row.

Furthermore, the median house price in the Victorian capital city is now $553,447, while the median unit price increased to $411,714.

Senior economist for the APM Andrew Wilson said in a July 25 statement that these conditions are set to stay for the remainder of 2013, with buyer activity and market momentum still on the rise.

"The patchiness that has characterised market activity over the past year is diminishing as expected with most capital city markets and market segments at or near record levels and rising," Mr Wilson said.

If you're interested in taking advantage of the market conditions and selling your Carnegie real estate, get in contact with Matthew Hurlston at Ray White Carnegie today!

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