FIVE VICTORIAN SUBURBS WITH HOME PRICES TIPPED TO GROW IN 2025 — AND WHY Source: https://www.realestate.com.au/, Nathan Mawby, First published Oct 21, 2024 The head of one of Australia’s largest real estate firms has tipped Victoria for a population-driven home price recovery in 2025. And Melbourne suburbs at the heart of it are expected to include Keilor East, St Kilda East, Glen Waverley, Altona North and Spring Gully in Bendigo, with agents in one of the suburbs revealing the only thing holding it back was its name. In McGrath Real Estate’s annual property market report, boss John McGrath has flagged that the state’s population rising at one of the nation’s most rapid rates at the same time as constraints on the number of tradies available to build homes is slowing housing construction. Despite this, recent PropTrack data revealed median home prices fell in hundreds of Melbourne suburbs in the past year. The city’s clearance rate has also declined since the start of 2024, when it was hovering between 65 percent and 70 per cent. Yesterday PropTrack data shows it reached 62 per cent from 809 reported results. Mr McGrath said population growth and home building constraints, along with a number of infrastructure Opening Lines 5 BUSINESS VIEW OCEANIA VOLUME 06, ISSUE 10
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