Fewer quality properties for fewer buyers

With the Melbourne property market showing signs of dropping by almost 5% in the first 6 months of this year (more across other cities of Australia), and the median price in Melbourne currently around $525k, there seems to be one thing for sure - there are fewer properties for sale = fewer quality properties on offer = tough competition between the few buyers jumping in. 

Don't be fooled by real estate agents into thinking you're picking up a bargain, because even in a buyer's market, good quality well positioned properties are still achieving excellent prices. (some properties are still achieving record prices across Melbourne!) One must remember when investing in property that your better quality properties will rarely drop in price. With more and more people looking to live closer to all the amenities, preferring to travel less to work and back, inner and middle suburb sectors are still in high demand. 

Sure, there is uncertainty in the world markets, but one thing we all know for sure is that Melbourne has been voted the most livable city in the world again! Where else would you live and invest in property!