There is good news for those considering buying or selling real estate in Carnegie, with the Real Estate Institute of Victoria (REIV) reporting that conditions in Melbourne's housing market are "favourable", compared to last year, as spring's selling season approaches.
REIV states that the latest data from the Australian Bureau of Statistics (ABS) supports the moderate growth seen in Melbourne's house prices, with the city's house price index increasing by 2.4 per cent over the June quarter.
According to REIV data, there was also a 2.4 per cent increase in seasonally adjusted terms for the same period.
This year, Melbourne's clearance rates and volumes are higher than 2012, with more homes being sold. Melbourne's auction clearance rates have averaged 71.6 per cent this month, with last weekend (August 17) reaching what the Australian Property Monitors terms as a "year-high" weekend auction clearance rate of 75 per cent.
This data indicates that Melbourne's housing market continues to recover, but it's also important to consider local market conditions.