Ray White Warrnambool

What’s happening in our market? Property markets have been largely in hibernation since auctions and inspections moved entirely online for most of August. Our spring property market is ready to return to its boom status, with a surge of enquiries from buyers and sellers coming through after the state government announced public auctions and private inspections could be held again. Price growth in regional Victoria has far exceeded Melbourne, driven not just by a lifestyle shift but also decent agricultural conditions further afield. The gap between regional and capital city growth is one of the highest in Australia, likely driven by the particularly long time Melburnians have spent in lockdown since the start of the pandemic. Since peaking at 9.7% quarterly growth in late April, house price gains in Warrnambool slowed somewhat to 3.7% in the three months to August. Looking ahead, the most likely driver of price moderation would be any future restrictions to finance. There is no doubt that buyer numbers have remained strong. Competition is fierce and with low stock it means sellers who come to market now are achieving above expectation prices. Ray White Warrnambool has sold 30 of 31 auctions in the last quarter with a 97% clearance rate. If you’re thinking about making a fresh start, give us a call. We’d be delighted to arrange a no obligation, contact conscious appraisal of your home at a time to suit you.