In­ner glow for sell­ers

Herald Sun - Property - - MARKET WRAP -

val­ues fell 0.5 per cent for the quar­ter on the back of a 3.5 per cent drop in Novem­ber.

The me­dian dwelling price in Mel­bourne was $602,500.

CoreLogic head of re­search Tim Lawless said it was a warn­ing for off-the-plan pur­chasers as a large num­ber of new dwellings com­mence con­struc­tion.

“Those pur­chasers may face chal­lenges at set­tle­ment if the val­u­a­tion of the property is lower than the con­tracted price,” he said.

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