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New listings hit record high in Melbourne

By Matt Hurlston

It’s always good to have a wide range of choices, but it can become a tad overwhelming if you don’t have the right advice. This is especially clear when new property listing hit their highest level since 2007, according to CoreLogic RP Data. It’s a good thing we have Matt Hurlston and the team to help out with choosing your real estate in Bentleigh!

It’s true: new property listings have hit their highest ever recorded for this time of year. CoreLogic reports almost 8,000 new properties on the market for the city in the 28 days leading up to 7 February. That’s the highest of any capital city in that same time period and a 9.4 per cent increase from last year. Sydney was next in line with 6,352, followed by Perth at 4,806.

Spoiled for choice in a cooling market

This new selection of property is surely beneficial for anyone looking for Victorian real estate – and there are plenty of reasons to be looking to buy at the moment. The Real Estate Institute of Victoria describes how the cooling Melbourne market is an excellent time to consider making a property purchase, as the moderating prices are opening up the market to buyers who were previously priced out.

“While 2015 was a remarkable year for vendors, a moderating market favours buyers with more room for negotiation,” said REIV CEO Enzo Raimondo.

Clearly, if you’re looking to jump onto the property ladder, 2016 is the year to do it!

Getting the best in Carnegie

Whether you’re looking to capitalise on the end of the Melbourne capital city growth or are looking for a new home in gorgeous Carnegie real estate, make sure you get into contact with the local real estate experts at Ray White!

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