Carnegie real estate owners may be encouraged to hear that one expert believes the Melbourne property market is experiencing a resurgence.
Mark Armstrong, director of iProperty Plan, wrote in an article for Property Observer that the Victorian capital often undergoes fluctuating conditions.
He remarked: “The Melbourne property market is like an incoming tide. It ebbs and flows on the waves of confidence and buyer demand.
“In some cases the property market slips backwards but it always seems to get back to where it once was.”
And Mr Armstrong, who writes a regular column for his website, claimed that while it seemed there was a drop in demand, buyer interest has been building slowly under the surface and the sector is showing signs of picking up.
He noted that property values have slipped by around five or ten per cent in the last couple of years, but this is starting to change and the market is now taking up the slack “very quickly”.
People shopping around for a home recognise interest rates are low and steady, he explained, with many realising now might be the time to make a move in the market.
This means activity is reaching levels not seen since 2010, the expert said, with employment stability also driving the trend.
Lunar New Year is more than a celebration — it’s a reset. A time to clear out the old, welcome in the new, and set the tone for the year ahead. In many cultures, especially across Asia, decluttering before Lunar New Year is believed to sweep away bad luck and … Read more
Leasing out a property is a decision influenced by a mix of financial, lifestyle and long-term planning considerations. For many property owners, it’s not just about owning real estate, but about how best to leverage it to meet their personal and financial goals. One of the strongest motivators is financial … Read more