Figures show that property in Brunswick and other Melbourne suburbs look to be in a promising position over this conventionally sales-heavy spring season.
A 28 September report from CoreLogic RP Data shows that the property market in Melbourne is growing healthily as Australia dives into the heart of spring. In fact, the city seems to be powering forward with more steam than its sister real estate powerhouse.
Sydney, usually the star of price growth in housing headlines, is starting to lose some of the momentum that drove soaring prices. According to CoreLogic, the city's median dwelling price was recorded as $785,000 at the end of September. This represents a mere 0.1 per cent value growth over the month – a stark contrast to the 3.3 per cent in increase it experienced over July. The surge in Sydney's markets is evidently flattening out, as predicted.
Melbourne, on the other hand, experienced a far stronger growth in September. The capital city recorded a 2.4 per cent rise in dwelling values, resulting in a median price of $580,000.
Furthermore, listings of property going to sale remain impressive. Melbourne saw 7,830 homes newly listed in the month up to 28 September, which resulted in a combined total of 26,676 properties being offered on the city's market. This makes Melbourne the capital city with the most listed homes, trumping Sydney's dwindling supply, which had a total of 19,420 properties for sale.
What this all means is that it's a bright time to be both a buyer and seller in Brunswick. As a seller, price growth is rising steadily and reveals a promising opportunity for capital gain. As a buyer, the high number of property listings mean that you'll have plenty of real estate in Brunswick to choose from to suit your needs. Just give Ray White Brunswick a call, and we'll show you the vast selection on offer.