The announcement that the ring of steel around metropolitan Melbourne will be gone after the 8th November will mean a flood of Melbourne buyers back in business in terms of inspecting homes in Geelong to buy and rent and attending auctions.
Whist the market has remained steady and resilient through the last few months and our team has been kept busy (particularly with the extraordinary number of land sales we have effected) we expect a surge in activity almost immediately those roadblocks are removed. This will create additional competition in the market and may push prices up for a period in the short term until the market settles back into a normal pattern.
So what this means – Geelong buyers, if you are thinking of buying a home it might pay to be quick about it before so many new buyers flood the market, and sellers, if you are thinking about selling, why not list now to capitalise on this short term jump in demand. Our team would be pleased to discuss your buying requirements or assist you with an appraisal or any real estate matter and we welcome your call.
Until next week,
Nick Lord
(Director)