A lack of property listings and an increase in buyer demand is pushing up the price of inner Melbourne property prices, including apartments.
Apartments prices rise 4.6%
The Real Estate Institute of Victoria has released median sales figures for the September quarter showing house prices in the Melbourne and Yarra municipalities jumped nearly 10 per cent in the three months to September 30, 2009. Turnover was higher in the unit and apartment market, which recorded an average price rise of 4.6 per cent.
The strong quarterly growth has more than overturned the price slump which flowed from the global economic crisis when it peaked late last year, with Melbourne and Yarra house prices up 11.7 per cent on this time last year.
With a shortage of apartments and high demand from buyers, now is a great time to list your apartment. Call MICM Property on (03) 9697 8888 or visit our website for your free property appraisal.