An article in the weekend Age paper outlined that real estate agents are saying Melbourne’s property market has turned, with the eastern suburbs now experiencing boom sales conditions, and buyers are struggling to buy the properties they want.
According to their own analyst Dr Andrew Wilson, sellers were enjoying Melbourne’s best market in four years, but the keenest buyer competition was in the east and the north-east.
A question now being asked is will sellers push up reserve prices? Nelson Alexander sales director Arch Staver said “in a boom market you can be guaranteed of one thing – vendor reserves start to go up”.
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You can read the full article here: http://news.domain.com.au/domain/real-estate-news/balance-of-power-swings-away-from-melbourne-home-buyers-20150321-1m4n1q.html
