Autumn’s star performer in the Melbourne property market has been without a doubt the outer eastern suburbs.
There’s no hiding from the figures as homebuyers try to find affordable housing and move further from the city centre to do so.
Last weekend for example the outer east recorded an auction clearance rate of 87.3 per cent as compared to Melbourne’s overall rate of 71.8 per cent. And Vermont South was the gold star performer recording a rate of 95.2 per cent.
Have a look at some of these numbers from Australian Property Monitors from February 1 – April 10:
“It’s becoming increasingly difficult to buy a quality house within 10 kilometres of the CBD for under $1 million,” he told Domain.com .
Andrew Wilson from Australian Property Monitors said the numbers were so strong because buyers were looking further afield as prices rose in Blackburn and Nunawading.
“It really is that belt from Warrigal Road all the way out to the Dandenongs that’s proved to be very popular over the past 12 months,” he said.
“But it also includes Glen Waverley and Mount Waverley which have been really strong performers in that market.”