Property Update: 4 December 2019
Spring is behind us and the Melbourne property market continues to climb with this weekend’s preliminary auction clearance rate clocking in at 74 per cent. If you’re in the market for a new property, the window of opportunity to buy before Christmas is closing fast.
The level of interest in property is extremely high with CoreLogic’s monthly measure of values reporting that house values in Melbourne increased by 2.4 per cent in November, the largest monthly increase since 2015. So far this year, values have jumped 2.9 per cent. Make no mistake, the local market is charging ahead.
With the Reserve Bank of Australia keeping the cash rate on hold at a record-low 0.75 per cent yesterday, head to our Projects to review our latest property offerings.