Here’s where properties are selling the fastest in Melbourne
The Melbourne property market is on fire, fuelled by pent-up demand after a number of months of lockdown, at a time when interest rates are at historical lows.
Established home buyers are out looking to upgrade, first home buyers are looking to get into the market and investors are slowly returning to the housing market.
Recently Domain reported the Melbourne suburbs where properties are selling the fastest.
It's not surprising that it's the lower end of the market that has seen the most dramatic reduction in the time required to sell a property, with more first home buyers taking advantage of the various incentives available including stamp duty discounts.
Now just to make things clear...
I'm not suggesting that these are the locations where you should be looking to buy an investment property, but I find the following tables of Days on Market a useful insight into the mood of our property markets which are currently being fuelled by FOMO (fear of missing out.)
Change in days on market for houses
This data compares the days on market (how long it takes to sell a property)between January 2020 and January 2021 for private treaty sales only.
Now is the time to take action and set yourself up for the opportunities that will present themselves in property this year.
Sure the markets are moving on, but not all properties are going to increase in value. Now, more than ever, correct property selection will be critical.
You can trust the team at Metropole to provide you with direction, guidance, and results.
Whether you’re a beginner or an experienced investor, at times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that's exactly what you get from the multi-award-winning team at Metropole.
We help our clients grow, protect and pass on their wealth through a range of services including:
Buyer’s agency – As Australia’s most trusted buyers’ agents we’ve been involved in over $4Billion worth of transactions creating wealth for our clients and we can do the same for you. Our on the ground teams in Melbourne, Sydney, and Brisbane bring you years of experience and perspective – that’s something money just can’t buy. We’ll help you find your next home or an investment-grade property. Click here to learn how we can help you.
Property Management – Our stress-free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years, and our properties lease 10 days faster than the market average.
About Kate ForbesKate Forbes is the National Director of Property Strategy at Metropole. She has 22 years of investment experience in financial markets on two continents, is qualified in multiple disciplines, and is also a Chartered Financial Analyst (CFA). Visit Metropole Melbourne