The latest CoreLogic RP Data Hedonic Home Value Index for March has shown the growth of Melbourne's property market values over the last 12 months, which could be great news for people interested in selling their real estate in Bentleigh.
According to the data, over the last year Melbourne's property values rose by 5.6 per cent and recorded a median home value of $518,000 at the end of March 2015. CoreLogic RP Data head of research Tim Lawless said that since June 2012, Victoria's capital has seen dwelling values rise by 23.6 per cent.
Furthermore, the first quarter of 2015 saw the city's values rise by 3.5 per cent, with Mr Lawless stating that the cut to Australia's official cash rate in February resulted in a boost in auction clearance rates.
"Combined capital city home values have increased by 3 per cent over the first quarter of 2015. While that rate of growth is strong it is important to note that it is lower than the 3.5 per cent increase in home values over the first quarter of 2014," said Mr Lawless in a 1 April statement.
If you're interested in selling your Bentleigh property, be sure to get in touch with Matt Hurlston at Ray White Carnegie. His expertise in the area can help you maximise your real estate returns and aid your future housing goals.
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