- December 3, 2012
- Posted by: Rogers Property Group
- Category: Latest News
Detached house sales in Victoria dropped considerably by 12.1% in October. The Victorian market has been struggling for some time now and the latest figures prove this. The oversupply of property in Melbourne’s outer suburbs is not helping the situation. While Melbourne is struggling, the rest of the nation is showing signs of growth. NSW actually increased by 4.7% over that same period. If the dismal result for Victoria was excluded, the overall result for the month of October would be extremely positive at 2.4% The ABS has also highlighted an approx 1% rise in residential construction sector over the September quarter. This highlights the need to get the right Australian property investment advice to avoid getting into an over supplied market, like Melbourne.