Quarterly Property Market Update – July 2013

Based on The Age Sunday Results*

Steady Price Increase Continues

The property market for Melbourne through autumn and into early winter has continued to be solid. Anecdotally, houses prices for inner areas since the end of last year have risen from between 5 and 10%, according to agents in these areas and from our own observations. It is possible however this opinion may not be confirmed by median house price statistics provided recently …

Largely due to insufficient numbers of sales, median price information thus supplied from suburb to suburb, month to month, in our view does not always give an accurate picture of where values are going. Such a lack of sufficient data to enable an accurate interpretation is often not understood.

The current interest rate climate has “never been better” for home and investment buyers. Few, if any, can remember mortgage rates much lower than present levels. Investment property income is looking very favourable in relation to borrowing costs.

Locking in a mortgage loan rate is a personal decision but doing so for a good number of years at anywhere around 5% looks sensational from an historical perspective. There is always present a further downside possibility for rate movements, but equally, they can move up! For those ready willing and able, now might be just the right moment.

Happy House Hunting In 2013 … Call us to discuss how we can help you.