With the first three months of the year now officially behind us, and the kids about to start their first school holiday break for 2024, this extended weekend is an ideal time for all of us to put our feet up and collect our thoughts on what the year to date has produced.

Importantly, it’s also a great time to think about the remainder of the year that lies ahead of us, and what our plans for that period might look like.

For those who might be curious about what the property market has been doing, it’s worth noting that the latest data from Corelogic has shown just how resilient the Australian real estate market has been despite the impact of high interest rates and the resultant concerns about the rising cost of living.

The numbers from the latest Corelogic Home Value Index indicate that property prices nationally rose by an average of 8.9 per cent over the past twelve months to the end of February, reaching an all-time high in the process.

Even more interesting is that when you drill down on these numbers to see what has been happening on a suburb-by-suburb basis, the data shows that of the 4,625 different geographic markets analysed around the country, 4,087 of them (88.4 per cent) saw values increasing over the year. On a more local level, the figures showed that 90.3 per cent of Melbourne suburbs recorded an annual rise over the year.

That’s certainly good news for anyone in the City of Hume who is considering selling and making a move in the coming months, reinforcing the outstanding results our team has been achieving recently. Our sale of the five-bedroom home at 19 Edara Circuit in Greenvale (pictured) is a prime example, as anyone who witnessed the strong levels of buyer interest that this attractive home generated would know.

Keep in mind that if you’d like an update on what your own property could achieve in the current market, why not give me or one of our team at Barry Plant Gladstone Park a call this week on 9330 1088.

In the meantime, I hope you get to enjoy a great extended weekend, and the Easter bunny brings you something delicious.

Regards,

Bill Karp - Director

Barry Plant Real Estate

Gladstone Park