PandG Real Estate

WELCOME Here you will find property statistics of sales in Cranbourne East for the January to March 2022 period. After soaring to new heights in 2021, Melbourne’s property values are tipped to keep climbing this year. Increasing consumer confidence, an improving economy and abundant job creation ensures continuing strong Melbourne house price growth. The number of newly listed properties are rising compared to last year and buyers are contemplating their decisions, the FOMO (fear of missing out) is beginning to lessen compared to last year. Melbourne’s house prices have increased by 12.5% in the past 12 months with the median price now $1,120,000. Our property market is slowing naturally as affordability constraints and greater choice for buyers. Our sales team are still seeing the first home/lower priced properties selling in the first week and above vendors expectations meanwhile the higher priced properties are taking a little longer to sell. In the rental market, demand and rental prices have hit historic highs. In the first quarter there has been a severe shortage of rentals, and rents have surged at the fastest rate in seven years. There has been a 59% increase on demand per rental listing, the highest year-on-year increase in the whole nation. This upward trend looks to continue with rental listings 12.2% year-on-year lower and with migration recommencing, further tightening of rental supply is imminent. Our property management team continues to see a high demand in our local area, resulting in successfully leasing all our properties with a quick turnaround. If you are interested to find out what your home is worth today for sale or rent, please call or email us. Kind regards, P&G Real Estate Photo by Chris Lawton from Unsplash 03 9587 8881 pgadmin@eview.com.au