Australian property investors are considering returning to Victoria as the state's housing market begins to recover and stabilise, according to an analyst.
Paul English, corporate auctioneer with real estate group Harcourts Victoria, pointed out that the current auction clearance rate is hovering around the 60 per cent mark, an acceptable position given the current economic climate.
He added that while there has been little yearly change in how many people are buying homes, the big difference between now and then is that more options are available to consumers.
There is a good range of high-end property available for purchase across the state, the auctioneer suggested.
"I don't think we'll see too much change in house prices or interest rates over the next year, which indicates a fairly stable and consistent property market," Mr English said.
A number of industry professionals recently told the Sunday Age they would be happy to help the government's efforts to boost the state's faltering economy.
Posted by Steve Douglas
