Real Estate Agents around Melbourne have dismissed recent data that the housing market is cooling, after recent figures released by RP Data noted Melbourne having the biggest decline of 3.6%. After another weekend of substantial house clearances, agents are quoting the market as “still being exuberant and robust”. It should be noted that this data is collected month by month and shifts in the market will normally be seen.
Reserve Board of Australia also notes that dwelling prices have increased significantly over the past year, though there have been some signs of moderation recently. RBA also notes that there has strong expansion in the housing construction area.
With interest rates at an all time low and the real estate market in Melbourne remaining steady, now might be the time to consider upgrading.
If you are considering your next move and would like advice on how much you can borrow, call me, Michael Wren on 03 9813 3522 to discuss your options. Or email me email@example.com