Melbourne houses jump in price in 2015
House prices within Melbourne increased by over 11% during the course of last year.
Recently published official data has shown that house prices in Melbourne shot up by around a ninth during the period. This was a big annual increase and it had not been matched for several years, so the housing sector may need more brochures from brochure printing in suburbs like Essendon if demand for property remains strong.
Richard Wakelin, a buyer’s agent, told Domain News:
Wakelin said that demand is healthy with regard to family homes and small cottages in the area. He argued that those experts who believed the housing market was on the turn would be somewhat shocked by the actual performance of the local economy.
However, the chief economist for the Domain Group, Andrew Wilson, has disagreed with the opinion of Wakelin by suggesting that key drivers of house price growth like rising incomes are not functioning as they once were. In particular, he has pointed to how interest rate changes could impact significantly on the demand for the most expensive properties.
Recently published official data has shown that house prices in Melbourne shot up by around a ninth during the period. This was a big annual increase and it had not been matched for several years, so the housing sector may need more brochures from brochure printing in suburbs like Essendon if demand for property remains strong.
Richard Wakelin, a buyer’s agent, told Domain News:
“This is a market that has been running for the last three years, but there is still demand in the market place; we are seeing at a number of auctions with four or five bidders competing. So prices are going to continue to move upwards, not at a dramatic rate, but in a moderate manner.”
Wakelin said that demand is healthy with regard to family homes and small cottages in the area. He argued that those experts who believed the housing market was on the turn would be somewhat shocked by the actual performance of the local economy.
However, the chief economist for the Domain Group, Andrew Wilson, has disagreed with the opinion of Wakelin by suggesting that key drivers of house price growth like rising incomes are not functioning as they once were. In particular, he has pointed to how interest rate changes could impact significantly on the demand for the most expensive properties.