New REIV data shows there has been solid price growth in Melbourne in the June quarter, defying a slowing economy and moderating national market.
Homebuyers priced out of their preferred area in the current market need not despair – buyers can buy their dream home in a neighbouring suburb for a fraction of the price.
New REIV data shows that homes located within the catchment area for some of Melbourne’s best public secondary schools are fetching close to a $600,000 premium compared to those outside the zone.
A range of factors – including the upcoming Federal election – will push Melbourne’s auction market to unheard of highs in the next fortnight.
As Melbourne heads into winter, the north of the city is running hot with strong auction volumes, sales and price growth.
While house prices in regional Victoria increased 4.5 per cent in the year to March 31, new REIV data shows multiple regional towns experienced significant capital growth.
The national real estate body, the Real Estate Institute of Australia (REIA) along with state-based REIs – including the REIV – has launched a campaign calling for the retention of negative gearing.
The REIV welcomes today’s decision to lower the RBA cash rate by 25 basis points to a record low 1.75 per cent – boosting confidence in the market and helping buyers gain a foothold on the property ladder.
The Real Estate Institute of Victoria has backed new initiatives announced by the State Government today, including significant road and rail investment across the state.
After 16 years of service, REIV CEO Enzo Raimondo is departing the REIV at the end of the financial year to take up another opportunity within the property industry.