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Hi All
Am interested to find out what is happening in this market.
Have been told the market has improved from 6 months ago.
Would like an update from those on the ground, ie are properties selling, how long is it taking, what is moving etc.
Thanks
MTR
HI BT
Very interesting, want to get in before the herd, not sure whether the timing is right yet. Syd on the move, Melb usually follows, but nothing is normal or predictable anymore. Will follow this market closely.
Thanks
MTR
Inner city is booming. Have said it last time, saying it again. Loving it!
Hi Aaron
I know, you mentioned this.... and lucky you with your development going make a bundle. However in Perth inner city is within 10km of city..... so anything over 10km-15 km is middle ring, is this also booming.... such as Pascoe Vale, Glenroy, I am not feeling the love from RE agents in these areas
I thought inner city was 5km from city in Perth? Or simply one suburb from Cbd?
Have been going to a few auctions in Sth Melb & Albert Park in the past month. None have sold and with minimal interest. I think the market is still very patchy.....
5-6 bidder at every auction taking prices around 30% above top end of advertised range - and this is every auction I've been to with no exception.
Not really. Things will sell well within range and often pass in last year.
In my opinion, the market in the vicinity of Armadale/Prahran/Toorak has picked up significantly as I've rarely seen a passed in status in my weekly scouring of the sold data.
If you look closer at individual suburbs you'll see certain areas have increased by 5%-10%+ in value over the last 6 months. Just depends on where and what you're looking at...
Often the reserve price will be within the initial range but I regularly here this from agents: "The vendor changed the reserve price on the day" or "The vendor increased the reserve in our pre-auction meeting yesterday."