Out Of Lockdown
- Posted By Johnny El-halabi
In our first month back to "normal", Melbourne's property market is evidently HOT! Money is officially cheaper than inflation... Corona got us cheap money?
With Coburg sales results leading the way for the evident next boom, the affordability of Pascoe Vale will quickly see it becoming Melbourne's next million dollar suburb.
Evidently, in a sign of the times, our Pascoe Vale townhouse on McCracken Avenue sold before auction for a great result!
Our townhouse at 1 Fox court, Jacana sold in just 5 days! Both homes were sold to first home buyers! So is the market red hot? Are we back to business yet? Or are Victorians just excited to be out of Lockdown?
Interest rates are at record lows, with the cash rate being slashed this month to just 0.1%!! Surely that in itself will give buyers confidence to stretch themselves out that little bit extra!! The Melbourne housing market may just prove to be more popular than the toilet paper fiasco.
Mortgage brokers will agree. The finance pre approval is taking a lot less time to be processed. Another sign that we are at the start of the next boom!
In Perth, mining magnate Andrew Forrest has made a big push into property! And why wouldn't he? The return on property investment in Perth is massive! The forecasted growth is huge! Mr Forrest knows how to play his cards!
I said in my last blog that COVID Spring in Melbourne will be one for the record books. And so far, it definitely appears to be tracking.