Sorry Stocko it's just not the case. This time of the year is always quiet, it's a very bad time to try and make a call on the property market. This Frankston property, maybe someone was desperate to sell in a quiet time, maybe it's just another catchy phrase dreamt up by the industry.
A friend of mine is a surveyor and does work for some of the largest developers in Melbourne. He has indicated that there are a swag of new apartment ventures on the table. The buyers are being driven by overseas investors, looking for a profitable place to place their money away from the hstorically low interest rates in most of the countries overseas.
Whilst I think the cycle is turning, there will not be a property crash. Properties will mark time as they always do, until the next cycle. The previous low cycle in Melbourne property lasted for close to 10 years.
I think the next few years would be a perfect opportunity to purchase property, but as always choice of location is very important.
