Melbourne property market remains strong

May 20, 2017 by  

Melbourne property market remains strong

Reports suggest that the strength of the property market within Melbourne is persisting.

It has been revealed that the local housing auction is performing more strongly than it did a year ago. Those in charge of the auctions might use catalogue printing in Mitcham to showcase property in the future. This season, the conditions for selling Melbourne properties have been benign. There is some variety in the performance of the different suburbs of the city.

Regular auctions have been held in Kew, Camberwell, Preston 15, South Morang, Reservoir and Brighton. Recently, Reservoir has outperformed the other suburbs in terms of auctions.

Across the city, volumes and clearance rates at the auctions have been assessed as solid. This reflects the fact that sellers have not been disappointed. A minor dip in the clearance rate cannot be seen as a significant divergence from the underlying trend.

Nevertheless, the housing market of Melbourne could be influenced by the trajectory of the wider national economy. It might be thought that general economic underperformance has the potential to undermine future activity.

However, it should be remembered that federal government is prepared to take action. It has already introduced a raft of measures which are designed to address possible market distortions. For example, an effort is being made to assist first-time buyers. The idea is to make it simpler for them to save for deposits.