Buying a home can often be a stressful affair. You want to know that you are making the right decision, and that the suburb you are moving into is going to be suitable for your family not just in the short term, but for the long run as well.
So with that in mind, is real estate in Carnegie and the surrounding areas a smart place to settle?
Stable inflation in Melbourne
Inner south Melbourne, the wider city and indeed the entire country is currently seeing inflationary pressure at a minimum, despite rising house prices in certain areas.
Not too long ago, our news article 'demand continues unabated' reported on findings that many experts were predicting housing interest rates to remain steady, not to rise until next year. By the looks of a 22 July media release from the Real Estate Institute of Australia (REIA), this fact remains true over a month on.
In the release, it is confirmed that the Reserve Bank of Australia's assessment of the situation was accurate, based on consumer price index (CPI) figures from last quarter.
"In the June quarter, the CPI rose by 0.7 per cent and an annual rate of 1.5 per cent. These figures are below the RBA's target zone of 2-3 per cent, and should not put pressure on the interest rate outlook," said Neville Sanders, president of the REIA.
In addition, data from the Australian Bureau of Statistics has shown that Melbourne house prices are growing at a slower rate than both Adelaide and Sydney.
If you're considering purchasing a new apartment or home in Malvern East, Carnegie, Bentleigh or any of the other suburbs we service here at Ray White Carnegie, pop online to see the range on offer right now. Auctions are always a great way to try and get a deal on a house, which means you can take advantage of this low-interest market.
Melbourne’s rental market remains one of the most competitive and priciest in Australia, even as overall growth rates have softened in recent months. While some data shows quarterly changes easing or stabilising, rental levels are still significantly elevated compared to pre-pandemic norms — and many of the forces that drove … Read more
As the days grow shorter and the air turns crisp, fall is the perfect time to reset your home and prepare for the cooler months ahead. A little seasonal preparation not only keeps your space comfortable and efficient but also helps protect your home from wear and tear. Here’s how … Read more