Earlier this month, the latest CoreLogic RP Data Hedonic Home Value Index for November was released.This highlighted the slight drop in Melbourne house values over the month, which could be great news for those interested in buying real estate in Bentleigh East in the coming months.
The report found that capital cities nationwide experienced a slowing down of value growth over November, as prices began to moderate to a more sustainable level. Specifically, Melbourne saw median prices drop by 2.6 per cent over the month – which could be wonderful news for buyers hoping to secure a great deal in the Victorian capital.
With the median price currently resting at $568,500, CoreLogic RP Data research analyst Cameron Kusher pointed out that this decrease is further evidence of the stabilising market, following explosive increases in value earlier this year.
"Although Sydney and Melbourne appear to have moved through their peaks, capital growth these two cities have consistently been the main driver of value growth over the past 12 months," said Mr Kusher in a 1 December statement.
With prices mellowing out, now could be a great time to get in touch with Matt Hurlston at Ray White Carnegie and start working towards your own real estate goals in the local area.
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Article Source : Click Here Nerida Conisbee – Chief Economist In property markets, price pressure usually flows like water – when buyers can’t afford their preferred suburb, they move to the next-best alternative nearby. This “spillover effect” drives faster price growth in adjacent, cheaper areas as displaced demand seeks similar … Read more