Melbourne’s this spring season has much more to offer to the first home buyers than the last year. As per the report – “The annual increase in the number of loans to the first home buyers is noted 35.5 percent in Victoria.”
As an expert can easily sense the promising activities in Melbourne first the high clearance rate and the second one is auction numbers in the city. Which purely indicating the best time to buy and sell in the real estate property market in Melbourne.
The high clearance rate with the higher number of auction indicates the strong market which gives more options to the buyers so they can buy the best home which fulfills their requirement. And in this superbly awesome spring, Melbourne is truly and completely offering all these to the first home buyers.
Last year the exemptions for the first home buyers was up to $6,00,000 reductions on the sliding scale up to $7,50,000 As the concessions on the stamp duty introduced in last year when the property market was going well and strong. As last year the clearance rate and competition were high. But now the property market is more soft for the buyers, property clearance rates are down, it’s more of buyer’s market than for the sellers.
Property valuer Melbourne says – “ This is the best spring after the years for the buyers to hit the market as the suburbs are offering the best opportunities like Sunbury, Doreen, Roxburgh park.”
It is expected that this spring will boost the market again with new listings and prod the buyer’s interest. As the past winter has languished the property clearance rate below 60 percent.
Property expert says – “Now the buyer’s are enjoying more than previously because since 2012-2013 to till now they hadn’t gone any such chance to enjoy buying homes in Melbourne.” Since December 2012, last week Melbourne’s clearance rate hit its lowest point that is 56 percent.
First home buyers are buying property at the moment and they are aware of this that they aren’t buying the real estate property at the peak of the market. The banks tighter lending procedures, practices and restrict interest-only loans aren’t allowing investors to buy the property which is proving as an advantage for the home buyers.
As per the current facts – It is noted that 19.6 percent of the residential purchase or home purchase is done by the first home buyers. First home buyers are hunting homes in the spring season in Australia they are – Geelong’s Norlane, Wyndham Vale, and Melbourne’s St Albans.
More hope has been seen among the first-home buyers across the country between market cooling conditions.
If you are buying home for the first time or for investment purpose hire a property valuer for property valuation services. Our expert property valuer are potent and qualified one to guide you well in the property matters. Whether you want to buy residential property or commercial one. our valuers can help you in this.