Central areas taken to the extreme for vendors

Looking to sell your property, but don’t know when the right time is? Knowledge is power, and it’s important to always learn as much as you can about your suburb. The right real estate agent can be a great help with this, but it also pays to conduct your own research.

Looking at recent work from the Commonwealth Bank of Australia (CBA), it certainly appears to be a good time for anyone with itchy feet to think about listing their property.

Extreme sellers’ markets abound 

The CBA’s most recent Home Buyer Index shows us where the markets are across Melbourne that favour buyers and sellers. According to this release, Inner Melbourne (for example, real estate in Fitzroy) has bumped up from a balanced market to a sellers’ market in recent months.

This means that supply pales in comparison to demand, indicating that a lot of people want to buy in these areas. It means it’s a good time to sell your property, many people could be looking at your area as one of the best places to live in Melbourne.

Wonderful developments across the board

When you look at the innovation going on around the area, it’s no wonder that buyers want to get in amongst the area so badly. The Yarra Council’s 2015 budget alone included funding of $8.3 million for a library and community hub in North Fitzroy, not to mention upgrades to parks and playgrounds around Richmond, Collingwood, Yarra and beyond.

It’s a desirable area for many, especially if you’re family-oriented. Whether acting as a buyer or seller, it’s important to work with people that will understand the appeal of inner Melbourne and what people want to get out of it.

Thinking of a way to get amongst the action and sell your Melbourne property? Don’t hesitate to contact us – we’ve got over 40 years of experience helping people live their best life in and around Melbourne.