Melbourne housing market news
With the Reserve bank leaving interest rates at record lows, we are seeing increased demand for properties in both Sydney and Melbourne.
Melbourne auction clearances have increased pushing median house prices up more that 7% in the first quarter of 2014.
This trend is likely to continue, although the REIV has cautioned as growth will slow towards the end of the year.
This is not good news for first time buyers as it makes entering the market much more difficult.
About Melbourne
Australia’s most livable city
Melbourne’s has been ranked the world’s most livable city since 2011 and has been amongst the top three since 2002. Melbourne sets the standard for dining, art and fashion in Australia. A city of 3.6 million is considered by many to be the cultural capital of Australia.
Second most populous city
Melbourne is the capital and most populous city in the state of Victoria and is the second largest to Sydney. Melbourne’s diversity in food various from Little Italy in Lygon St, Dim Sum in Melbourne’s Chinatown in the heart of the city to Vietnamese, Greek and everything in-between.
Melbourne experiences
Wineries – Yarra Valley and Mornington Peninsula within 1 hour of the city.
The Great Ocean Road trip which take you to some of the most beautiful coast line and beaches. Witness the rugged splendor of the 12 Apostles that rise from the great southern ocean.
Phillipp Island where you can see the Penguins, Koalas and Kangaroos. Also the home of Motorcycle Grand Prix
Watch the start of the Formula 1 Grand Prix season.