I have herewith attached a Property Report for September Quarter. This is a snapshot for Melbourne West. Read Page 3 for to read full report on Melbourne Property outlook. Click here to access the report.
Melbourne West:
Melbourne’s west remains relatively affordable, especially when taking into account proximity to the CBD. And although a levelling of the market is expected in the coming months, there will be no dramatic drop off as demand for suburbs in the west continues.
Vacant allotments in the west represent an especially strong segment with supply not meeting the significant demand. In particular, land with development potential is highly sought.
There will be an increase in medium density housing as land costs gradually increase in response to the lack of supply. Although clearance rates are high, sale by auction isn’t traditionally the top method of sale in many of Melbourne’s western suburbs due to a stable supply of similar properties within designated regions.
Deer Park supports this trend with only 11 per cent (REIV) of property sales resulting via auction in the last 12 months. However, this trend is slowly changing as demand for western suburbs’ property increases. Properties in Melbourne’s west continue to be supported by developments in infrastructure such as the additional rail links to the west, new shopping facilities and industrial warehouses on Derrimut Road, and the ongoing construction of Watervale Shopping Centre on the corner of Taylors Road and Calder Park Drive.
Please do not forget to feed my fishes by clicking your mouse on the water and hungry fishes will follow your mouse and eat the food !!
Please do not forget to feed my fishes by clicking your mouse on the water and hungry fishes will follow your mouse and eat the food !!
Cheers,
Rashesh :)
Financial Planner,
Fortune Wealth Creation Group
No comments:
Post a Comment