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Long term Victorian growth pred...

Long term Victorian growth predicted

Results from the Real Estate Institute of Victoria’s (REIV) median house prices show that the value of the property market has been growing for some time.
<div $$hash="5980-0"><p $$hash="5991-0">The property market in Victoria could expect to see more growth.

 

 

<p $$hash="5979-0">Results from the Real Estate Institute of Victoria’s (REIV) median house prices show that the value of the property market has been growing for some time.

 

 

<p $$hash="5982-0">House prices have been rising in Melbourne for five years. The median house price in Melbourne was valued at $529,000 in 2012, which is 26 per cent up from 2007, when it was valued at $420,000.

 

 

<p $$hash="5988-0">REIV compared prices to 2007 specifically because it was known to be a particularly strong year for the property market in Australia.

 

 

<p $$hash="5984-0">Since 2012, the property market in Melbourne has seen more growth. Reports from RP Data show that the average property price in the city has continued to rise, which shows a promising future for the housing market.

 

 

<p $$hash="5986-0">Consumers have shown that they are confident about buying into Melbourne’s property market, as the city’s weekly auction clearances have seen unusually high rates of properties sold.

 

 

<p $$hash="5993-0">Posted by Ravin Chatlani

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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