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Quiet start to April great for buyers
Over April’s first two weekends the Real Estate Institute of Victoria (REIV) recorded more than 457 auctions. 336 properties sold, 248 at auction, with 121 passed in. 88 properties were sold before auction with 0 properties selling after auction. The clearance rate averaged 73%. 763 homes were bought by private sale.
Less competition!
School holidays and Easter meant a low key start for April. A recent rate rise plus the current international conflict is adding some uncertainty in the mix. But what is certain, with a bit less competition in the market it’s a golden opportunity to make your move and secure a perfect property.
Buying a property in Melbourne right now is just about the best value in Australia. Inflation pressure might bring more interest rate rises, but Melbourne median home values and mortgages are among the lowest, with easier serviceability.
Exceptional value still out there
In the hunt for value take Frankston North for example, it’s 42 km’s from the CBD, with a median house price of $700,000. A similar suburb in Sydney costs more than double that. And value growth in Frankston North is on the way up – 16% in the last 12 months (realestate.com.au). It’s similar to other parts of Frankston but $150,000 less expensive.
Like other low cost suburbs it’s still a bit rough around the edges, but gentrification is inevitable given the beachside location, prices, and the new generation moving in and smartening it up. Continued value growth is certain.
Great buying in the North
Another example – a 4 year old well-appointed family home in Wollert sold for $670,000 last weekend, 27 km’s from the CBD, directly down High St, Spring St, and St. Georges Rd. Homes like this are the most reasonably priced in any of the larger State capitals.
How we get you the perfect property
Whether it’s owner occupier or investment, Buyer Marketing will locate the perfect property, often before they’re widely advertised. We examine build-quality, amenities, and other key value markers. We then negotiate for you through the bidding and buying process, avoiding pitfalls and complications that can arise. We make the process smooth and steady with less stress! Check some of our online Testimonials and you’ll see delighted buyers and how we deliver a great result again and again.
Peter Fox
Principal Advisor &
Licensed Estate Agent
Buyer Marketing

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