Melbourne property market steadies, good news for home buyers [Domain, 2015]

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Attention home owners and buyers: the latest is that Tarneit home prices grew by 2.8%. Median price is $385,500. Come on Regional Rail Link – get Tarneit Station up and running and give our burgeoning suburb the boost it deserves!

Across Melbourne, Prahran did the best this year: a staggering 33% growth in home prices.

Source: The Domain Group  Map by @datafunk
Source: The Domain Group
Map by @datafunk

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Melbourne property market steadies, good news for home buyers
by Alice Stolz
Source – Domain, published January 31, 2015

Change is in the air for Melbourne’s property market and buyers may finally find themselves back in the game as the market shifts gears.

After the summer hiatus, sentiment appears to be changing with Domain Group data released this week predicting that price growth for the year ahead will cool.

“It’s definitely good news for homebuyers, if they’ve got a job that is,” Domain Group chief economist Dr Andrew Wilson said. “In an underperforming economy Melbourne will struggle to have any real price growth this year.”

Overall house prices grew just 0.6 per cent over the December period, down from the 1 per cent growth that was recorded in the previous quarter.

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