Melbourne house Property booming! Auction Clearance at 87%

Today, we have ” The Age” quoting many major real estate agents spruiking their view of the market. Bullish of course, but let us review their rationale.
1    Safe living environment.
Booroondara is the only large Alcohol free zone in Melbourne, thus much less crime and assaults.
2    Tax advantages for the home property. Likely new taxes coming in the  Ken Henry Treasury review.
3    Good schools and School zoning requirements. Schools like Balwyn have a great record. Lets note, Stonnington has 8 of the top ten private schools in Melbourne. Much of Booroondara is easy access to the top private schools.
3    Limited numbers of quality family homes.
4    Enhanced easy FIRB requirements for Foreign investors, since late 2009.
The combination of these above, just screams, councils areas like  Booroondara and Stonnington.
No argument from me here. The agents are suggesting more overseas buyers, and a return from overseas by expatriate Australians. The expatriate Australians might be still “reeling” from the recovered $A dollar, perhaps they will become buyers later. Close to 900,000 working Australian are  working , overseas, reckon a fair number will return, here as Australia to be one of the best growing western countries.
What to do?, It  say,one can try easy home renovating, as a way to enter the market.
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