May Property News - UPDATE

Scott Banks, Winsdor Thursday 9:56

By Scott Banks

06-05-2021

The year racing by; it's hard to believe it's the beginning of May already!

The property market is continuing to show resilience on all fronts. Our property management department remains extremely active with a lot of movement by renters. This has primarily been driven by the pent-up demand from last year when renters were restricted from moving. Now that renters can freely move about, many new leases are being signed currently by our agency. If you're looking for something new to lease, you can view our current rental properties here: https://scottbanks.com.au/residential/lease. You can also get in touch with Gina if you're looking for something specific she is aware of properties that are coming up that are not currently being marketed: https://scottbanks.com.au/team.

The sales department also has been very active with both properties officially on the market and via our new website https://www.realestateoffmarket.site/.  As mentioned last month, if you're interested in testing the market without officially going on the market, we can help facilitate this process for you. We currently have a large number of active cashed-up buyers currently looking for a suitable property to buy. Feel free to visit the website and register as a buyer or seller. Sellers choose to sell off-market for many different reasons; sometimes, they want their business to remain private and not be in the public domain. Some also choose not to have public open for inspections and prefer only qualified buyers to inspect their property privately by appointment. 

A couple of interesting articles recently published about the property market of note, one reported on ABC News ' Melbourne's median house price hits record $1 million.' Key points: The median house price in Melbourne jumped 8.8 per cent in March; it was the biggest quarterly increase since December 2009. The median house price in regional Victoria passed $500,000 for the first time. The link to the article is below.

The other very interesting article that highlights another driver in the current housing market environment with record low-interest rates realestatebusiness.com.au recently reported 'Nearly 6 in 10 Aussie homes cheaper to buy than rent' the article goes on to say that they expect "More than half of Australian homes will be cheaper to buy than rent for at least the next decade. The link to the article is also below.

Best wishes to all Mothers for Mother's day on Sunday; we trust you all have a fantastic day with your loved ones.

May all your property news be awesome! #awesomethingsarehappeningatsscottbank