One of the most recent signs of this improving market sentiment came in the form of Corelogic’s most recent Home Value Index which was released at the start of this month.

This monthly analysis of property market activity reported that Australian housing values showed a broad based rise of 0.6 per cent in February, reinforcing the 0.4 per cent growth that was reported in January. February’s growth rate was the strongest monthly gain since October 2023, and is an interesting result given that interest rates are still such a popular topic of conversation among home buyers and owners lately.

In commenting on the latest data, Corelogic’s Research Director, Tim Lawless, is reported as saying “The ongoing rise in housing values reflects a persistent imbalance between supply and demand which varies in magnitude across our cities and regions.” He went on to state “Potentially we are seeing some early signs of a boost to housing confidence as inflation eases and expectations for a rate cut, or cuts, later this year firm up.”

This rise in property values has been accompanied by continuing strength in published auction clearance rates across Melbourne in 2024, confirming that sellers are enjoying a very positive start to the year.

With this in mind, property owners in Melbourne’s northern corridor may well be spending some time this long weekend to think about their plans for the future, potentially bringing forward the sale of their current home to take advantage of the current conditions. So if you need any assistance in planning your next move, or just need an update on what your current home could achieve in today’s market, you can give us a call this week at Barry Plant Thomastown on 9466 3233.

In the meantime, I hope you are enjoying a relaxing and enjoyable long weekend.

Cheers,

Con Constantinou

Barry Plant Thomastown