Local Insights – Carlton
By Peter Sarmas on 1 Jun 2013
No Comments yet, your thoughts are very welcome
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”.
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.
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
