Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

REIA: 2,200 people move to Victoria each week

Each week, around 2,200 people move to Australian property in Victoria, the Real Estate Institute of Australia has claimed.

Some 2,200 people move to Australian property in Victoria each week, the Real Estate Institute of Australia (REIA) has revealed.

The REIA claims that there is a shortage of dwellings in the state to accommodate this great number and that the vacancy rate is currently below two per cent.

However, auctions are still going ahead at quite a rate, with 2,959 being conducted in July and a clearance rate of 67.5 per cent being achieved.

In June, there were even more, with 3,203 auctions taking place and a clearance rate of 68 per cent.

"These statistics confirm that although winter is generally a period of less activity, this has not been the case this year," a statement from the REIA said.

It went on to say that the strongest demand for Australian property has been in the suburbs, such as Watsonia, Ferntree Gully and Dandenong.

Earlier this month, RP Data research analyst Cameron Kusher suggested to API magazine that the price of regional Australian property has increased at a faster rate this year than was seen in 2009.

Posted by Ravin Chatlani

- Victoria, migration, REIA

DISCLAIMER: 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.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now