As the year draws to a close we have seen the intensity ofbuyers increase, knowing that Christmas and New year creates a deadline formany with much of the industry shutting down over that period and minimal newstock coming online. On our end we have seen an increase in Buyer enquiry withbuyers either still wanting to buy this side of the new year or planning aheadto start searching in the new year. We have also seen an increase in investorsreturning to Melbourne with many aware other states have seen their maximumgrowth, with Perth, Brisbane and Adelaide seeing 65% growth since 2020. Amarket correction is inevitable.

We have continued the see markets within markets, with thetop end of the family home market seeing a much smaller buyer pool but stillsome solid results being achieved.  The sub $1,000,000 market is stillexperiencing a lot of competition. We attended an auction in Avondale Heightsover the weekend for an older style two bedroom villa unit selling for $660,000when the last sale in the development sold last year for $580,000. Theapartment market has been patchy with supply and demand remaining the biggestcontributor. Suburbs with higher volume of apartments are seeing less desirableapartments have price corrections and sit on the market for longer periods. Insome cases this has been ambitious quote ranges we have found when we havelooked into comparable sales.

We have continued to see turnkey family homes perform welloverall. With many still weary of taking on a project. We saw a outstandingresult for a 1 bedroom house in Little Graham St, selling for $1,225,000 afterbeing quotes for $800,000 - $850,000. We also saw a house at 4 cooper Road,Rowville sell $70,000 over reserve for $1,060,000.

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