Spring's finally come out swinging

If you’ve been looking for the best suburbs in Melbourne to buy property, it looks like spring might finally have the answer for you. With more than a quarter of all current listings in the country emerging in the last four weeks, there’s plenty of fresh real estate ripe for the picking!

While there are less overall listings than there were 12 months ago according to CoreLogic RP Data, there are slightly more new listings. This means fresh marketing campaigns and plenty of new choices when you decide to buy property here in Melbourne. But where in particular is doing well?

Vendors on top – but it’s not over for buyers

As we noted recently, Melbourne is a strong sellers’ market at the moment. CoreLogic RP Data says this is why new listings are so plentiful this spring – vendors want to make the most of the environment and cash in on their property. However, even smooth sailing conditions don’t guarantee your transaction will stay afloat!

For example, the CoreLogic Pain and Gain report for the June quarter showed that in the Yarra region, 9.9 per cent of home resales actually came in at a loss, going well against the overall trend. That’s where having a great agent can help you stay on the right side of the ledger, whether you’re buying or selling!

Losses still minimal

The Pain and Gain report does show that the losses were minimal compared to the profits people were making in the City of Yarra, however. The median loss on resales there was $23,000 while the median profit on sales for Fitzroy real estate and surrounding areas was $325,000.

You need to carefully pick the right property and work with the right team that understands the area and what you need, but you can find your dream purchase or sale among the spring market.