Melbourne continues to sit on Sydney’s heels when it comes to property capital growth, so we reveal the top suburbs where you can expect to pay more or less than advertised across Melbourne.
Over the 12 months to July 2014, Melbourne home values increased by 11%, second only to Sydney’s growth of 14.8%. Melbourne homes are also selling faster than last year with the average number of days on market falling from 45 in June 2013 to 41 in June 2014.
50% of houses and almost half of apartments in Melbourne sold for more than advertised last financial year, again second only to Sydney.
To help you know which suburbs are selling at a premium and where you can still negotiate down, here are the top suburbs selling above and below the advertised price in Melbourne.
Top Ten Suburbs Selling Above List Price – Houses:
Top Ten Suburbs Selling Above List Price – Units:
Top Ten Suburbs Selling Below List Price – Houses:
Top Ten Suburbs Selling Below List Price – Units:
With homes in many suburbs selling higher and faster than before, it’s important to go into your property search clued up on what the market’s doing, what your borrowing capacity is, and with a strong will not to stretch yourself beyond your means to snare that perfect pad.
Want more information? Download the full Property Discounting Report for free.
Have you recently bought in one of Melbourne’s top suburbs? Did you need to pay more or less than the advertised price?
Find out which suburbs are selling above or below the advertised price in Adelaide, Canberra, Darwin, Sydney, Hobart, Brisbane, and Perth. And check out our Australian Property Pricing Report Infographic.
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