Whether you're living in property in Brunswick or are on the fence about making the move, you might be keen to know what the state of the housing market will be like in 2016.
An October 19 release by the Property Council of Australia has said that the country's residential housing outlook seems to be positive in the coming year.
Citing research from the spring edition of the RDC CoreLogic RP Data Australian Residential Development Outlook, healthy market activity has been predicted for 2016 as it soon feels the effects of record high building approvals and new commencements.
As supply rises to meet demand, Tim Lawless of CoreLogic RP Data has said that "the heat is expected to come out of housing price rises over the next year".
Nick Proud, residential executive director of the Property Council also noted the following:
"In a vital sign for improving affordability, the indicators also show that residential supply nationally is finally meeting household formation requirements to create enough housing to satisfy growing demand."
The Housing Industry Association's Affordability Report recorded a drop of 2.9 per cent in housing affordability over the June quarter. Signs that this trend may be bucked in the coming year is a good sign for buyers looking for real estate in Brunswick.
Furthermore, renters have much to benefit from as rental prices are forecasted to remain stable and a wide spread of housing options are set to appear in the market.
There are many ways to take advantage of a market that has a positive outlook. If you feel like it's time to move into one of Melbourne's most homeliest suburbs, don't hesitate to give Ray White Brunswick a ring.