In fact, Corelogic’s data to the end of June, which was released earlier this month, showed that property values have now reached record levels in almost every capital city across the country.

In Melbourne, house values rose by another 1.8 per cent in June, (or close to $22,000), despite the start of the month being impacted by the lockdown before our latest announcement. The city’s median house price is now sitting at a record level of just under $930,000, which reflects an increase of 11.4 per cent during the first six months of 2021.

As some parts of the media have been keen to pint out, this means that Melbourne’s median house price is now less than 8 per cent below the $1 million mark. If the current trends continue, we could reach that point before the end of the year.

As we have pointed out regularly during the past 6-9 months, one of the key contributors to these rising prices is the ongoing shortage of property available for sale. Some market analysts have suggested that property stock levels in June were more than 24 per cent below the five-year average.

What do these numbers mean if you’re considering making a move in 2021? Simply that you should make sure you get every possible assistance in order to get the right result when you sell, and to find the right property when you buy.

On both counts, having an experienced and professional agent by your side throughout the selling and buying process can make all the difference. That’s why we would invite you to give one of the team at Barry Plant Gladstone Park a call this week on 9330 1088.

We look forward to being of assistance.

Cheers,

Nick Pugliese - Sales Director

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park