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Australians think buying property in Melbourne is a good idea

By Matt Hurlston

Based on a recent survey by CoreLogic, buying property in Oakleigh is not your only option. Indeed, the RP Data Nine Rewards Consumer sentiment survey revealed that Australians believe, despite rising house prices across many of our nation's capitals, now is a good time to buy property. As for Melbourne in particular, a strong response showed that people believe it's an even better time to sell your Carnegie real estate.

The survey took a look at the June 2015 quarter to gauge people's opinion of the housing market. All totalled, 60 per cent felt now was an acceptable time to buy – even though the Australian Bureau of Statistics reports a national house price rise of about 6.9 per cent since last year.

However, though this number may seem high, it is down from prior years. The same quarter in 2014 saw 71 per cent of respondents saying the same thing, with 80 per cent the year before that.

Of course, higher market prices make selling your property in Carnegie a little more appealing. Indeed, Property Value states that the current average sale price is just over $900,000, which is perhaps why the RP Data survey showed Melbournites were more keen to sell than to buy. 

It would appear from the results of this survey that people are more concerned with a significant market correction than rising house prices. Around 75 per cent of respondents stated they felt Australia was vulnerable to a significant market shift which was the highest reading RP Data has ever received for that particular query. 

Whether you're interested in buying or selling, make sure to talk to a professional to help see you through the process with as little stress as possible. Contact us at Ray White Carnegie today and we'll do our best to help you reach your real estate goals.

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