A new property report has found Melbourne’s outer areas, including Wyndham, are experiencing the strongest house sales volumes across the city.
The report, issued by hotspotting.com, says that while many of Melbourne’s inner and middle suburbs were experiencing reduced house sales, activity was rising in outer suburbs and in municipalities including Wyndham.
Hotspotting’s Terry Ryder said that for the spring property guide, he had examined house sales that occurred between April and June this year and compared them with previous quarters.
He said there had been a consistent upwards swing in places such as Williams Landing, Hoppers Crossing, Werribee and Tarneit.
According to his website, Mr Ryder has been a specialist researcher-writer on residential property for 32 years who created hotspotting.com.au in 2006 to help investors.
“For some of the latest figures in those individual suburbs, we’re talking about suburbs that are some of the most active in the Melbourne market,” he said.
Mr Ryder said that between April and June, there were 748 homes sold in Werribee, 636 sold in Tarneit, 620 sold in Hoppers Crossing and 448 sold in Point Cook.
“People seeking affordability move further out as they get priced out of inner and middle suburbs,” he said.
Mr Ryder said Wyndham’s public transport, schools, jobs growth and shopping centres also attracted new residents.
His report said Melbourne’s property boom was likely drawing to an end, indicated by strong price growth in outer areas and falling sales in places closer to the city.
He said this was a “fairly normal cycle” that had started about three years ago with strong sales in Melbourne’s inner suburbs, followed by middle suburbs and finally the outer areas.
“But right now, it’s a seller’s market,” Mr Ryder said.