At MICM Property, we’ve been seeing some positive signs of improvement in the inner city and Southbank market. There’s anticipation in the air as confidence returns as a result of the recent change in government and all-time low interest rates.
The median unit and apartment prices across Melbourne from the REIV September 2013 quarter show figures were up to $481,500 up 4.8% on the previous quarter, with a 9.6% annual change.
Southbank’s median unit prices for the September 2013 quarter were $543,500.
Melbourne CBD median unit prices for the September 2013 quarter were $449,500.
In fact, it just might be the perfect time to buy an inner city residence or investment property. Why? As the market gears up for the warmer months, property prices are yet to take off. That means there are excellent properties available right now for great value prices.
We predict more buyers attending open for inspections over the next quarter, so if you’re considering making a move into inner city property, now would be the perfect time to secure a great deal.
For inspiration and to see what’s on the market right now, browse our for sale properties here.
To speak to our sales team, call (613) 9697 8888.
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