Melbourne HOME Property Investment Market update
January 8, 2010 by Tim
Filed under Practical Renovation, property market, Renovating
Herron Todd White, (Independent Property Advisors) are publicly stating that, the Melbourne HOME property market is on the move. They see a rental shortage and a tightening vacancy trend. They see the demand for a home, as between strong to very strong. While, constuction of new homes, as steady to increasing. The volume of total home sales, as increasing, from a low level. Leading one to conclude, the home Property cycle is in a rising stage of the market.
What to do? , Author’s, suggestion might be to buy a large block of land with an older home that can be renovated.
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Tim, as a non-expert I concur. The suburb we live in (Bonbeach) has seen a jump in the median house price of over $200,000 in 3 months. My wife and I put it down to the resale of an enormous amount of rennovated and rebuilt homes in the area over that time. Wish we’d jumped in early enough to profit!!
Hi Pete, Nothing wrong with Bonbeach . Given the giant Eastlink freeway, every prospect of people becoming interested here , as it links the suburb to the employment areas of the eastern suburbs, and the giant Monash thus access to the CDB. there has only ever been one thing missing in the outer beach areas , secure employment. I anticipate that the Eastlink will link these areas to good access to employment.
Cheers Tim.
Hi Pete, You can only get in the game when you are ready to start. Hope you can gather together a team and a system to work in all markets. Just as soon as you are ready, with time, capital, resources and team !!