A recent data release from the Real Estate Institute of Victoria (REIV) has found that Melbourne property values rose by 5 per cent over the September quarter, ending 2014 with a median house price of $669,000.
REIV chief executive officer Enzo Raimondo said the record breaking auction boom seen just before Christmas was a significant contributor to these house prices rises.
"Inner Melbourne increased by 11.7 per cent for the year with middle Melbourne up by 13.2 per cent and outer Melbourne at 8.9 per cent," said Mr Raimondo in a 30 January statement.
"With interest rates at record low levels for more than a year, the buoyant finish to the 2014 house sales year, with a string of big auction weekends in December, is likely to give a fillip to the coming summer/autumn selling season."
Furthermore, the regional Victorian market also saw growth, rising by 5.5 per cent over the December quarter.
If you're looking to purchase real estate in Bentleigh, now could be a great time to consider getting in touch with Matt Hurlston at Ray White Carnegie. His expertise and advice can help you make the right decision for your property future.
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