Market Update July 2022

It’s hard to believe we are past the halfway mark of the year, yet we’re starting to see daylight hours lengthen and whispers of spring appear, signalling the start of what is traditionally an exciting time in the property market.

Whilst we continue to operate in a market that is slightly more cautious than what we saw earlier in 2022, the inner and outer East continue to outperform many other regions of Melbourne, with above-average auction clearance rates being reported again in July.

The number of properties being brought to market across the reporting period was reflective of the usual winter pattern, with declining levels compared to warmer months, and this has kept overall stock levels low.

An increase in listing numbers is expected across spring as traditionally, it is a favoured season with vendors and buyers alike. If demand remains at the current levels, however, this could be great news for buyers and investors actively looking to make a purchase, as they should have greater choice and less urgency when making a decision.

The rental market continued to gain further strength, mirroring the competitive situation that’s being seen across the country. Melbourne delivered its seventh consecutive drop in vacancy rates, ending the month of July at 1.4%. This is the lowest rate registered since March 2019. Domain has reported that we could see rental conditions stabilise across the months ahead with an increase in investment activity assisting in alleviating tightening conditions.

At Noel Jones, we are as dedicated to our core values as we are to the growth and success of our team. On Saturday, 30th July, we held the Noel Jones End of Financial Year Awards at Crown Aviary; a beautiful venue where we were thrilled to be able to celebrate the hard work and success of our amazing team over the past year. It was a night where we also recognised our high achievers and the individual team members who reflect our company values.

Last month Noel Jones announced the inception of its exciting new Community Support Program, an initiative that will see us offer grants of $1,000 to deserving applicants each month.

On the 21st July, we revealed the first of our successful recipients, with the July grant being awarded to the Maroondah Winter Shelter, a Maroondah churches and community response to local homelessness.

The mission of the Maroondah Winter Shelter is to provide shelter, food and honour for people that need it most in the Maroondah area. We are honoured to be able to assist them in delivering this vital community service.

You can read more about the Noel Jones Community Support Program and find application dates for our next round of grants by visiting www.noeljones.com.au/communitysupportprogram.

To discuss your current property needs, contact your local Noel Jones office, or visit our website at www.noeljones.com.au

 

Share:

More Posts

Strategies to get the most out of an investment property

Strategies to get the most out of an investment property   Maximise Depreciation Deductions: Maximising depreciation deductions is essential for property investors to significantly reduce taxable income, thereby lowering tax liabilities and increasing cash flow. Depreciation allows investors to deduct the cost of their property over its useful life, providing substantial tax benefits. By accurately assessing and maximising depreciation deductions,

Market Update | May 2024 Edition

Your May monthly update from Noel Jones, including the latest property market statistics and news from our team. Melbourne saw a relatively stable month during April, with many people taking time off during the Easter long weekend, school holidays and ANZAC Day break. Property prices remained stable for houses and units throughout the month, while industry-wide auction clearance rates held

Government Grants and Incentives for Melbourne’s Property Market in 2024

The Australian property market, particularly in major cities like Melbourne, has seen significant changes in recent years. While some government initiatives remain in place, new programs are less frequent. Let’s delve into the current landscape of government grants and incentives relevant to Melbourne’s property market. Existing Federal Government Initiatives: Home Guarantee Scheme (HGS): This ongoing program offers various guarantees for

Why Noel Jones Could Be Your Best Career Move

Are you passionate about the real estate industry and looking for a dynamic, supportive work environment? At Noel Jones we offer a unique blend of industry-leading training, cutting-edge technology, and a strong support system that sets us apart from the competition. Fuel Your Growth with Continuous Learning: At Noel Jones, we believe in empowering our team members to reach their

Send Us A Message

Good Job!

Thanks for taking the time to let me know about your needs.

I look forward to helping you find your new home.​

Buyer Requirements

Thank you!

I’ll be in touch soon with information on the suburb you’re buying in.

Find Out More