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Residential Property Index highlights Victorian market optimism

By Jamil Allouche

When people in a particular property market have a positive outlook for their future prospects, this can often be a good sign of growth and development in the region. 

The latest NAB Residential Property Index has highlighted the positivity of Victoria's outlook over the coming years, which could serve to inspire anyone on the fence about buying or selling their real estate in Brunswick to get in touch with an expert and begin pursuing their property goals. 

NAB Group chief economist Alan Oster pointed out that the national index rose to +21 during the first quarter of 2015, compared to the +12 recorded during the final quarter of 2014. This figure is also higher than the long term average of +14. 

"First homebuyers (FHBs) still account for around 1 in 4 of all new property sales, but the share of demand from FHBs owner occupiers fell to 14.7 per cent while FHBs investors rose to 10.1 per cent. Owner occupiers were broadly unchanged at 33.1 per cent, while local investors were down slightly to 24.1 per cent," said Mr Oster in a 21 April statement. 

With this in mind, be sure to speak with a local real estate agent to help plot and plan your own property market movements in the coming months. 

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