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Numbers continue to build confidence

Real estate & property news
08 April 2023
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If you’ve been scrolling through your favourite news sources this week you may have noticed a distinct change in attitude compared to earlier in the year. Make no mistake, the signs are growing that the Melbourne property market may be stabilising.

As we mentioned in LAST WEEK'S UPDATE, data from a number of trusted sources has begun indicating that property prices have been levelling out in recent months.

On top of the figures from PropTrack that we quoted last week, Corelogic has come out with new data this week which reported that after remaining virtually flat in February, their national Home Value Index posted the first month-on-month rise since April 2022, up 0.6 per cent in March.

Over and above these statistical indicators, regular readers will be aware that we have been reporting an underlying sense of buyer confidence for quite some time now, and they continue to be seen in a number of recent sale results across the City of Hume.

The most recent example of this came about in the sale of a recently completed single-storey three-bedroom home in Mervyn Drive, Greenvale (pictured). Combining the low maintenance appeal of a compact block with modern finishes, this neat home attracted strong interest from a mix of first home buyers, downsizers and investors before the keys changed hands after productive mid-week negotiations, achieving and outstanding sale at $675,000.

Some readers will find a result results like this provides providing an even clearer picture of what the local property market is doing than the data we mentioned above. However, if you’d like an accurate up-to-date indication of how much your own property could achieve in the current climate, the simplest way to find out is to give our team at Barry Plant Gladstone Park a call this week on 9330 1088.

In the meantime, we hope you have a safe and relaxing Easter break.

Best wishes,

Bill Karp - Director

Barry Plant Real Estate

Gladstone Park

Real estate & property news
08 April 2023
Save Article

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