Where to from here?

Having experienced one of the busiest periods in our 50 year history, it’s a good time to reflect on where the property market is now. It’s fair to say we have had ‘boom’ conditions throughout most parts of Melbourne and particularly throughout the eastern suburbs. Locally, Manningham, Whitehorse and Maroondah have all seen a spike in buyer activity and price, a combination of easy access to good schools, transport links and the massive infrastructure spending around Ringwood have seen some surrounding suburbs surge in value by 15-20%. Suburbs that may have ‘flown under the radar’ for many years are now ‘hot property’. We refer here to Ringwood East, Croydon Hills and even Warranwood. These areas and their many benefits have possibly been under appreciated until now. Where to from here is difficult to predict and even chief economists have differing opinions. Much is going to depend on the strength of our economy, employment, wage growth and interest rates, but what is obvious, is that our local suburbs have matured and are now more desirable than ever, ensuring strong demand and a solid future.