Ensure you never miss an issue of the
real estate business bulletin
Buyers ‘spoilt for choice’

Buyers ‘spoilt for choice’

by Belinda Luc 0 comments

Victoria is a ‘buyer’s market’, according to Harcourts Victoria chief executive officer Brent Pullar.

In the September 2010 quarter, the Real Estate Institute of Victoria reported that the median price for a house in Melbourne increased just 0.9 per cent, while the median price for a unit in Melbourne increased by just 0.3 per cent.

“Not only are properties in Victoria now slightly more affordable, but buyers are simply spoilt for choice,” Mr Pullar said.

“Currently, there are a lot of properties on the market so buyers can afford to be more selective and specific when buying a property.”

But, according to Mr Pullar, property price growth is unlikely to stay flat for long.

“I’m confident that this market will attract a lot of new entrants which will cause a new level of activity – this should eventually lift the market up again and before too long we should see a return to the growth we’ve become so used to, making now a great time to invest,” he said.

Buyers ‘spoilt for choice’
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?