Residents living in real estate in Bentleigh have enjoyed terrific capital gains on their property. Unprecedented demand and record-low interest rates mean that housing in this city has never been so valuable.
A December 7 release by the Real Estate Institute of Victoria reveals the growth of median prices in Melbourne. For the first time ever, the median house price breached the $700,000 mark, which occurred in the September quarter. This was spurred on by consistent growth across all of metropolitan Melbourne's regions throughout the year.
In the first quarter of 2015, the median house price reached $671,000. South-eastern city suburbs recorded the most dramatic increases in this period, with Bentleigh being cited as one of them. The report states that the median price of houses in these regions ramped up by more than 16 per cent over the year. If you're thinking of selling your real estate in Bentleigh, this may give you that push to reap the rewards of capital growth.
Through the June quarter, this momentum rolled onward, with the median house price climbing to $698,000. Then in the following quarter, this figure spiked upward to the record high of $729,500.
While the median price has risen strongly over 2015, what can you expect for the year ahead? The report predicts that there could be a healthy increase in values (up to five per cent per quarter), but it may not be as strong as what was witnessed this year.
If you feel like you're ready to cash in big with your real estate in Bentleigh, you're already at the right place. Give Matt Hurlston and the team at Ray White Carnegie to see how we can secure you a terrific sale.
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