Melbourne's unit market was one of the standout performers of the first quarter of 2014, with sales up 8.1 per cent compared to the same time last year.
RP Data revealed that 5,721 units were sold in the city over the three-month period, making it the second highest amount out of all the capitals.
Melbourne's houses were also in high demand, as sales increased 2.8 per cent year-on-year, showing the popularity of real estate in Oakleigh and other parts of the city.
RP Data's research analyst Cameron Kusher said it'll now be interesting to see if property prices start to rise as demand for houses and units increases.
"With the quarterly rate of home value growth having most recently peaked in September 2013 and quarterly sales having peaked shortly thereafter in November, it will be interesting to watch what happens to sales and values from here," he revealed.
Matt Hurlston of Ray White Carnegie
If you're hoping to enter the property market in one of Melbourne's popular south-eastern suburbs, why not enlist the help of Matt Hurlston at Ray White Carnegie?
He's a real estate agent in Carnegie who specialises in many local areas, including Murrumbeena real estate and real estate in Bentleigh.
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After a two-year renovation, Dylan Farquhar and Tylah Ingram transformed their old weatherboard into an energy-efficient home. Photo: Natalie Jeffcott At first glance, this 1950s weatherboard cottage seems typical of its setting in Blackburn North, a family-friendly suburb in Melbourne’s east where many older homes boast updated facades, modern extensions … Read more