Spring Market... What are your predictions for the next 3-6 months in property?
Where do you see interest rates?
What markets will rise/fall?
Update:
Spring Property Predictions (Melb)
• Interest rates to be held at 3.5 for all of spring; possible reduction just before Christmas. (Snr Economist of Westpac)
• Melbourne house values have grown by +2.5% over the last three months. (RP Data)
• Market has bounced after prices dropped 5.1% so there is more room for growth before possible resistance. (RP Data)
• Spring expected to start off slow, with the bulk of the listings coming on at the end of October through to November.
• Volume expected to increase by up to $70mil/week. The supply will be an important test for underlying demand.
• Based on current auction sentiment (REIV) the areas tipped to outperform well are Eastern inner and mid-belt family home oriented suburbs such as:
o Kew East
o Collingwood
o Carlton
o Fitzroy
o Coburg North
o Hawthorn East
o Glen Iris
o Oakleigh
o Macleod
• The prestige market +$2mil is still facing correction and prices are expected to fall
• CBD units expected to face correction as more projects come online.
Where do you see interest rates?
What markets will rise/fall?
Update:
Spring Property Predictions (Melb)
• Interest rates to be held at 3.5 for all of spring; possible reduction just before Christmas. (Snr Economist of Westpac)
• Melbourne house values have grown by +2.5% over the last three months. (RP Data)
• Market has bounced after prices dropped 5.1% so there is more room for growth before possible resistance. (RP Data)
• Spring expected to start off slow, with the bulk of the listings coming on at the end of October through to November.
• Volume expected to increase by up to $70mil/week. The supply will be an important test for underlying demand.
• Based on current auction sentiment (REIV) the areas tipped to outperform well are Eastern inner and mid-belt family home oriented suburbs such as:
o Kew East
o Collingwood
o Carlton
o Fitzroy
o Coburg North
o Hawthorn East
o Glen Iris
o Oakleigh
o Macleod
• The prestige market +$2mil is still facing correction and prices are expected to fall
• CBD units expected to face correction as more projects come online.
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