Property for sale in Victoria
Victoria is a federated state of Australia. Victoria is the least extended state on the continent and it is bathed southwest from the Indian Ocean and southeast from the Pacific Ocean. To the north and north-east it borders with New South Wales. The frontier line between the two states is marked for the most part by the Murray river. To the west it borders with South Australia. The Territory is occupied by the extensive Murray plain. The coasts are generally low and articulated. At the centre opens the deep bay of Port Phillip where Melbourne, the state capital, is located.
The slowdown in the real estate market in Melbourne is important, but the reality is that the market is very controversial.
Prices for properties for sale in Victoria are rising year by year and even though the activity among offshore buyers is cooling, foreign investors are still actively looking for property for sale in the city.
The softening of market conditions is starting to take hold and, astoundingly, given the widespread concern over the oversupply of flats, in relative terms, housing demand has weakened more. The weaker demand conditions in Melbourne have now increased and, although prices are still rising year on year, demand has fallen slightly in the last 12 months. Surprisingly, it is the demand for housing that has fallen more, perhaps driven by how prices have become expensive. The apartments continue to show high levels of demand.
About the market of property for sale in Victoria the premium areas in Melbourne seem to hold up better than most, with Melbourne's domestic demand year on year, while other parts of Melbourne have declined.
This, however, has yet to be reflected in prices and we will probably see this change in the rest of the year. On a suburban base, it's simplistic to say that only the best inner suburbs of Melbourne will be fine. Places like Warrandyte and Eltham continue to make the list of the most sought after houses, alongside Hawthorn, Toorak and St Kilda. Geelong's strength is now evident with Belmont in high demand when we look at the state as a whole, not just for homes but also for apartments and many others kind of properties for sale in Victoria.
While demand has declined slightly in Melbourne, the region of Victoria is moving forward with places like Geelong, Bendigo and Ballarat doing well, led by the first home buyers and young families looking for property for sale in Victoria, big lifestyle factors, age and convenience. The outskirts that people see most in these areas, such as Soldiers Hill in Ballarat and Belmont in Geelong, support an increase in demand in Melbourne. Geelong and Surf Coast prices have risen by over 11% in the last 12 months, a noticeable difference from Melbourne prices.
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