Inner East insights from Red Report
Our expert agents in the inner east have shared their top three trends and predictions for their local market in 2017.
Top three trends
- Hawthorn hits the $2M mark
Median house prices in Hawthorn have catapulted by 30% over the last twelve months, increasing above $2,000,000.
- Rental demand in Caulfield
Rents for apartments in Caulfield North and Caulfield East have skyrocketed.
- Buyers seek fixer-uppers
Homes with renovation potential, especially in Caulfield, are receiving interest
from second home owners and investors.
The apartment developments settling this year in the inner east will increase the amount of stock for investors – a lucrative investment that offers high rental returns. Investors should avoid looking for established homes, as stock is low. Owner-occupiers are remaining in their homes for longer, and opting to renovate instead of move house. Caulfield East and Glen Huntly will be up and coming hotspots for the next few years, as buyers trickle out of Elsternwick.