I agree towie. I can name half a dozen suburbs in the south east/ bayside part of Melbourne where prices are up by approx 5 to 10% on this time last year. I attended an auction yesterday for a new house which sold for a record amount for the suburb. There were at least 4 bidders in the crowd. The interesting thing is the lack of stock for sale in the market, especially given it is traditionally the peak selling time of year for the Melbourne market. Good family homes are especially in short supply.
The media is definitely focussing on the gloom and ignoring any pockets of strength in the market.
I actually don't mind this as I am in the market for a home at the moment.
