Improving auction clearance rates in Melbourne suggest house prices will rebound over the next 12 months but leading economist Shane Oliver says any upswing in prices could remain fairly constrained.
A lot of Melbournians start thinking about the warmer air in Brisbane this time of year and investors might also want to start thinking about property there.
The federal election result appears to have given a boost of confidence to the housing market and to assist matters regulators are moving to ease up on their restrictive lending policies.
Property investors have been popping up back out of the woodwork searching for super-cheap bargains before a possible Labor election win and subsequent negative gearing changes.
Melbourne property prices are the fastest falling in Australian capital cities – sliding 3.9 per cent in the last three months.
Things can turn around pretty quickly in the property game, it wasn’t that long ago that prospective buyers were throwing money at vendors for fear of paying more if they waited as prices rocketed.
The property market in Melbourne is cooling and it should prick the ears of potential buyers with prices sliding, and according to the experts the key to making a good buy is all in the timing.
Uncertain vendors in Melbourne and Sydney are taking the opportunity to sell before auction at an increasing rate.
Fresh research from property analysers SQM Research show house prices in Melbourne and Sydney could fall by up to 4 per cent this year.
Melbourne’s house and unit prices are closing the gap on Sydney and are the closest they’ve been for four years.
