First-home buyers back Market is stabilising after falling prices last year helped spark interest
February 14, 2012 Leave a comment
First home-buyers are looking at Maroondah again after new figures show house prices have dropped.
Recent industry figures show median prices fell up to 12 per cent from December 2010 to December 2011.
Treeby First National sales manager Brett Freeman said first-home buyers were back in the market after falling prices scared them off last year.
Mr Freeman said they had not wanted to get into the market while it was still falling.
However, he said the prices appeared to be stabilising after a tumultuous year. “I think they have levelled off again,” Mr Freeman said.
Croydon has emerged as a place to find some value, with a 12.3 per cent drop in house prices in the past year to $420,000.
However, Warranwood has maintained its reputation as the most expensive suburb in Maroondah, picking up 7.1 per cent to $660,000, while other suburbs dropped.
Mr Freeman said it was harder for buyers to find a bargain these days with the internet.
However, he said there was a lot of good value in houses in Maroondah, especially for those looking for their first home.
Source: Maroondah Leader, 07 February 2012