Melbourne property predictions: real estate experts weigh in on the final months of 2019

0

- Advertisement -

Melbourne’s property market continues to improve during 2019. Picture: Nicki Connolly

With the AFL Grand Final over, Melbourne’s property market is ready to kick into gear between now and Christmas. Strong sales have already blossomed during the first month of spring, and property experts believe there’s more positive performance ahead.

RELATED: Vendors tackle Grand Final day auction market in Melbourne

Outer Melbourne and regional suburbs for first home buyers

Stanley Bruce: Former prime minister’s childhood Melbourne home sells

See what some of Melbourne’s real estate gurus believe we’ll see for the rest of 2019:

Real Estate Institute of Victoria president, Robyn Waters:

REIV president Robyn Waters.

“We’re expecting the market to stay strong. Christmas is one of those deadlines people aim towards (to buy and sell), and that stimulates the market. Interest rates don’t look like they’re going to increase, and the federal government’s tax cuts and first-home buyer assistance scheme (from January 1) will help purchasers get into the marketplace. The good thing for sellers is there aren’t many other properties on the market.”

Advantage Property Consulting director, Frank Valentic:

Advantage Property Consulting director Frank Valentic.

“If interest rates drop another 25 basis points, which they look almost guaranteed to do next Tuesday, that’s going to stimulate demand even further. The “fear of missing out” phenomenon will continue to drive price growth. We’re at the start of the next upside cycle, so if buyers can get in, they’re going to experience some good capital growth. Unless there’s a late rush of listings in November, I don’t think there’s going to be as much choice for buyers as in previous years.”

Realestate.com.au chief economist, Nerida Conisbee:

Chief economist of Realestate.com.au, Nerida Conisbee.

“There won’t be a rapid upswing and investor activity won’t return to where it once was. However with lower interest rates and a lot of buyer activity, things are definitely easing up. We’ll continue to see a boost in premium suburbs in terms of pricing and a slight rise across Melbourne in general.”

CoreLogic auction analyst, Kevin Brogan:

CoreLogic auction analyst, Kevin Brogan.

“We are still going to see fairly strong demand and clearance rates, but there’s going to be some balancing factors. Employment growth is slowing a little and household debt rising, but we have also seen a cut in interest rates. We may see a rise in affordability issues for first-home buyers … if prices do start to increase. But moving forward we’re still going to see reasonably positive conditions and sentiment.”

— with Samantha Landy

READ MORE: Fairfield vineyard, Rutherglen the toast of the property market

Before and after: Wheatsheaf mud brick’s amazing transformation

Knox market boosted by return of Asian buyers

Leave A Reply

Your email address will not be published.