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Staying on the right side of price growth

At a time when almost everyone in Melbourne is feeling some degree of uncertainty about what the immediate future may hold, it’s been incredibly reassuring to see that so many Melbourne residents are feeling confident enough about the long-term outlook for our city to continue buying and selling property in surprisingly strong numbers.

Mind you, if you are a homeowner in the south-eastern corridor and you saw the article on pages 28 and 29 of Saturday’s Herald-Sun, you’re probably feeling more confident about the property market than most.

In case you missed it, the article by Jayitri Smiles (pictured) took a look at data from realestate.com.au that tracked property prices across Melbourne from the year 2000 to the end of June this year. The figures show that properties in the south-east including the Mornington Peninsula and the fringes of Westernport Bay had recorded some of the highest rates of price growth of any area of Victoria!

For example, the top performing area of all was Tyabb, with 682 per cent growth over the past 20 years. Other areas among the best performers included Somers in 2nd place; Crib Point (8th); Rye (9th); Tootgarook (10th); Bon Beach (11th); Blairgowrie (16th); and Hastings (17th). Rankings like these are a ringing endorsement for those with an interest in the local property market, particularly when you realise that they out-performed traditional ‘blue-chip’ areas like Albert Park; Balwyn; Canterbury; Caulfield and Surrey Hills.

Statistics like these are particularly valuable for those astute purchasers who understand that real estate is all about long-term thinking, rather than focusing on making a short-term gain.

The most important fact to keep in mind is that in order to maximise your result in the current market, whether you are planning to buy, sell or lease a property in the City of Casey, the most valuable asset you can have is sound advice from an experienced property professional who knows the local market intimately. So, if you are keen to gain an edge, don’t hesitate to give our team at Barry Plant Cranbourne a call this week on 5990 9400.

Regards,

Barry Plant Real Estate

Cranbourne & Frankston