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Stable Melbourne market offers real estate opportunities

By Jamil Allouche

With summer just around the corner, finding a new home for you and your family to spend the warmer months of the year in could be a major driving force behind investigating property in Brunswick. Now could be a great time to start looking, too, with the latest RP Data CoreLogic September Hedonic Home Value Index revealing that house prices have fallen slightly during September. 

The price index has recorded a 0.8 per cent drop in Melbourne's median price for property, which means the market has more or less remained steady. The current median price for real estate in the Victorian capital city is $535,000. 

RP Data national research director Tim Lawless said the relatively flat September figures could be great news for buyers interested in securing new property before the warmer months roll around, especially given the large capital gains seen in winter. 

"The softer September result is also likely to be seen as a positive indicator by the Reserve Bank which has recently raised concerns about the level of value growth and speculative investing in the Sydney and Melbourne housing market," said Mr Lawless in a 1 October statement. 

With these figures remaining steady, the coming weeks could be a great time to begin investigating the local market for a great property deal. 

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