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Buyers ‘spoilt for choice’

Staff Reporter 3 minute read

Staff Reporter

Victoria is a ‘buyer’s market’, according to Harcourts Victoria chief executive officer Brent Pullar.

In the September 2010 quarter, the Real Estate Institute of Victoria reported that the median price for a house in Melbourne increased just 0.9 per cent, while the median price for a unit in Melbourne increased by just 0.3 per cent.

“Not only are properties in Victoria now slightly more affordable, but buyers are simply spoilt for choice,” Mr Pullar said.

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“Currently, there are a lot of properties on the market so buyers can afford to be more selective and specific when buying a property.”

But, according to Mr Pullar, property price growth is unlikely to stay flat for long.

“I’m confident that this market will attract a lot of new entrants which will cause a new level of activity – this should eventually lift the market up again and before too long we should see a return to the growth we’ve become so used to, making now a great time to invest,” he said.

Buyers ‘spoilt for choice’
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