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Melbourne property market ‘robust’

19 October 2015 by News Desk

ent_HughJackmanFlatIn Melbourne, Australia, property sales remain robust with 70% of listed properties being sold at auction.

In Melbourne’s outer eastern area clearance rates are above 80%.
In the city’s south east, property sales are steady but vendors say there has been a drop in the number of inquiries.

The Reserve Bank of Australia has warned of “housing oversupply” in Melbourne in its latest Financial Stability Review, but SQM Research statistics indicate a robust Melbourne market.

“There may be oversupply in certain pockets such as the Docklands but the population growth in Melbourne is still quite strong and the Melbourne housing market is forecast to grow by up to 13%.”

SQM Research suggest buyers should avoid Darwin which will have rent declines of up to 12% and also Perth which is currently undergoing a downward price correction.



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