Local Insights – Carlton

By Peter Sarmas on 1 Jun 2013
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Last weekend’s 74% clearance rate result from good quality numbers (720) was reflective of a property market that appears resilient, for the inner city at least.

Nicholas West, the Director of Nelson Alexander’s Carlton office, echoed a similar sentiment when discussing the Carlton property market. “There are a lot more people engaging and bidding at our auctions,” he said. “We’re certainly seeing a herd mentality out there”.

“There seem to be a lot of apartments coming onto the market at the moment. Quality apartments that are unique are outperforming standard apartments that are readily available”.

Growth Chart - Carlton

 

 

 

 

 

 

 

 

 

Source: Pricefinder

But is this improvement in consumer sentiment and bidding impacting prices, and to what extent? According to Mr West, “We’ve certainly seen a positive shift, but it is too early to tell without a trend. At the moment it feels like we are getting back to the prices and confidence we saw in 2011.”

Most of the activity is from first home buyers for properties priced between $750,000 and $900,000.

Peak Selling Periods - Carlton

 

 

 

 

 

 

 

 

 

Source: Pricefinder

Mr West said the most sought after and best performing streets in Carlton are as follows:

Canning Street, Carlton
Drummond Street, Carlton
Wilson Street, Carlton
McIlwraith Street, Carlton

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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