Nelson Alexander sales manager Milo Rasinac said the effects of the current financial environment were not being felt by Moonee Valley’s property market because of a shortage of available properties.
From the category archives:
Victoria
Push for universal housing
Disability Action Southeast (DAS) has joined a call for “universally accessible housing” to combat everyday problems faced by people with a disability. Facilitator Katrina Newman said a DAS survey asked people with a disability what problems they faced accessing houses, to gather empirical and anecdotal evidence.
leader-news.whereilive.com.au
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Buyers keep to market’s lower end
An eight-year-old brick veneer townhouse at 321 Young Street, Fitzroy, attracted three buyers and sold for $551,000, up from $430,000 in the three years the vendor had held the property.
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Auction date: 12:30PM, Saturday November 15, 2008
134 Curzon Street North Melbourne
134 Curzon Street North Melbourne
With a North side wall allowing light and views to most rooms this terrace shines were most don’t. Rich in Victorian detail and superbly positioned within easy strike of Errol St, Vic Market CBD and all this close proximity has to offer. 3 Bedrooms and a study/dining, sep lounge, kitchen/ meals and a pretty courtyard garden with room to park the car. A fantastic investment or ideal home in one of inner Melbourne’s most desirable suburbs.
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They come, look and leave as buyers beware
Drive north of Melbourne, past Melbourne Airport, past takeaway shops and sheep grazing on yellow pastures, and you’ll eventually come to the sprawling Highlands estate, in Craigieburn, and a sign that reads “Life starts here”. 
But for many developers such as Stockland, the owner of Highlands estate, there are few signs of “life” in the market. Indeed, after an acute downturn in the listed property sector, and faced with a pressing need to pay down its swollen corporate debt, Stockland is reportedly eager to sell a large, 1000-lot parcel of land on the western side of its main Craigieburn estate, rather than risk of selling it block by block to home buyers.
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Slowing market drops Northcote property prices
Real Estate Institute of Victoria figures for the September quarter show house prices dropping in Northcote by 7.8 per cent since the June quarter. But Love Real Estate owner Graham Love said he had not seen a decline in business in Northcote and Thornbury, which he insisted still had strong demand despite the credit crunch.
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Murky statistics cloud slump in house prices
Three months ago the bureau’s preliminary figures suggested Melbourne house prices slid 0.3% in the June quarter compared to the March quarter. The bureau says this is because it gets its preliminary information from the banks, which collect house price data when they approve loans. A new supplier of house price information, RP Data, believes prices are showing signs of recovering.
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Wind out of auction sales
REIV chief executive Enzo Raimondo said the popularity of affordable homes was also underscored by the fact that the prices of the bottom 25 per cent of homes sold bucked the overall trend by either increasing or staying stable.
”Analysis of the REIV data also shows that the economic climate is having the strongest impact in the most expensive suburbs and the least impact in the most affordable suburbs,” Mr Raimondo said.
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Housing demand in a nosedive
Louis Milkovits, head of Melbourne-based house builder AV Jennings, said inquiry levels had actually soared by almost 90% in the past few weeks because of the combined effects of rate cuts and new government grants.
”People have been sending in inquiry forms and ringing up sales consultants, but there’s only been a very small increase in attendance at display suites … and a negligible increase in sales,” Mr Milkovits said.
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Melbourne house prices drop by 3.3%
Victorian opposition treasury spokesman Kim Wells called on the government to provide “real and meaningful” stamp duty relief to home buyers at a time when housing affordability remained low. The Brumby Labor government’s spin and rhetoric on the issue of housing affordability sounds increasingly hollow,” Mr Wells said.
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