Melbourne Property Market Update – August 16, 2014

By Peter Sarmas on 16 Aug 2014
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This weekend there will be over 50 events to enjoy in Stonnington, including free movie screenings and art displays
Photo: City of Stonnington

Due to a reduction in the number of homes coming onto the market, buyers could struggle to find a property during the spring selling season.

• Peter Sarmas discusses this tightening supply, as well as a recent surge in higher priced properties and the impact this is having on the overall market.

• SQM Research agrees that the current market is in favour of sellers. Recent figures show that residential property listings plummeted in July.

• During a search in Melbourne’s inner east, Cate Bakos’s most recent client discovered the importance of having access to properties before they hit the internet.

• NSW House Rules team Candy and Ryan have listed their ultra-modern renovated property on the market following their break-up.

• And if you’re looking for something to do this weekend, head out to Stonnington and enjoy the Glow Winter Arts Festival, where there will be an outdoor food market, music and circus performances, free movie screenings, rooftop art installations and more.

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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.