Market Overview- November

With Christmas only 38 days away, you can almost smell a sense of urgency from people who are desperate to buy into the property market this year.

 For home owners that want to buy this side of Christmas, you only have 4 weeks’ worth of auctions left to go before they are pushed out to mid-January. There has been heavy activity also within the private sale’s sector.  Families want to be settled before the 2016 school year commences.

If you are attending open houses, you will have seen an increase in people attending.  There is an average of 7 groups inspecting properties last Saturday. It makes it a very competitive market this time of the year. Potential bidders will need to have deep pockets if they want to secure their new property. New developments continue to be dominant in South Melbourne & the Spencer Street end of the city, causing property prices in these areas to stabilise .