The latest data, which was released yesterday, found that property values in Melbourne were up 6.4% for the quarter to August, reflecting the strongest winter capital gains since 2007.
Whilst the fact that Melbourne has recorded year-on-year growth of 11.7% would have been good news for anyone thinking of selling this spring, the longer term perspective was, if anything, even more pleasing. In fact, RP Data says that Melbourne’s values have risen by an impressive 46.1% since the start of 2009.
Which just goes to show that if you are looking to buy in the current market, waiting for “a better opportunity” is probably costing you more than you realised!