For people who are thinking of selling or buying real estate in Australind, the latest trends indicate the market is continuing to recover, and there are more active buyers looking for property in the area.
According to data prepared by myrpdata.com for realestate.com.au, for every house on the market in Australiand, there are five people looking to purchase. While the monthly median price for houses has fluctuated a bit, the median unit price has remained stable at $304,000.
Since 2004, however, the yearly median price for both houses and units has been on the rise. An increase in demand and decrease in supply has resulted in a tightening of the vacancy rate, and is good news for investors.
Similarly, investors in real estate in Eaton will be happy to hear that there are currently about seven people looking to purchase for every one house in the neighbourhood.
The annual median house and unit price has risen considerably over the past five years, though it has fluctuated a bit in the last couple of months. This rise in demand and corresponding decrease in supply boosts the value of investments in the area, and is an encouraging sign for owners.