Of course, if you are one of those local property owners who follow these weekly posts on a regular basis, you will already be aware that we have been reporting some fairly positive numbers for a fair percentage of the year to date.

The good news this week is that the positive data on the Melbourne property market seems to be continuing, particularly if you are keeping an eye on buyer activity levels. As you would have noticed if you picked up Saturday’s Herald-Sun, the Barry Plant network successfully sold 508 properties last month.

Importantly, that result reflected an increase of around 25% on the 405 sales that we achieved in April. When you consider that April’s result was considered a very strong number given all that was happening in the world at the time, the May result is a great sign for anyone considering selling a property in our part of Melbourne over the next month or two.

The other piece of good news for the property market this week was the growing amount of talk that stamp duty reform could be back on the agenda.

Economists and tax experts have been arguing for decades now that governments should consider getting rid of this unpopular and illogical housing tax. There is no doubt that this form of taxation if a genuine hurdle for anyone wanting to buy their next home, so the news that the state governments of New South Wales and Victoria are now weighing alternatives is good news for the property market.

These positive pieces of news reflect a growing awareness that the local property market is one where there are genuinely solid numbers of keen buyers ready to purchase as soon as the right property becomes available. So, if you’d like an obligation-free update on how much your property could achieve in the current climate, don’t hesitate to give the team at Barry Plant Thomastown a call this week on 9466 3233.

Best wishes,

Con Constantinou

Barry Plant Thomastown