Insights
The Best Suburbs to Sell in Melbourne
November 16th 2015
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In Victoria, Prahran, Fitzroy North and South Yarra are the hottest seller’s markets this time of the year, writes Peter Farago from the Herald Sun.
In an article on the weekend, Farago interviewed Hodges St Kilda Director, Michael Townsend, on the booming Prahran market and the buyers that are pushing the prices.
“The typical buyers in Prahran have a double income, no kids, have been renting for a long time and have $1 million- plus to spend, according to Hodges’ Michael Townsend,” the article writes.
“They’re ready to buy a house but still want the lifestyle and amenity of an inner suburb. They’re emotional buyers and they compete very hard at auction, [which is] why we’re seeing these prices creep up,” Townsend tells.
“Mr Townsend said buyers were gravitating towards renovated period homes where they only had to move in,” Farago states.
The listed fastest selling suburbs appear to be in Melbourne’s East and South-Eastern suburbs.
To read the full article, click here (paywall).