There are a few things that residents of Victoria and in particular Melbourne are passionate about. They include, in no specific order, coffee, food,fashion, art, football and of course real estate( in all its forms).
We scan the daily papers and real estate sites, checking the latest sales results and listings and Melbournians attend week end auctions in the same way as others attend sporting events. We can’t get enough of it We compare how our individual properties have risen in value, discuss potential boom areas and delight in studying the photos in real estate agents’ windows.
If it is not sales we are discussing, it is renovations. One only has to visit the local hardware barn- Bunnings for confirmation that we are all trying to add value to our properties or visit one of the many Home Centres that have sprung up like mushrooms throughout the metropolitan area
Radio and TV chat shows always feature a so called expert,proffering advice to the the listener/viewer about property hot spots, or renovation advice, on a daily basis and the week end papers have real estate sections that are so large they have the potential to cause a hernia when lifted!
The way property prices have risen , I have to wonder if the younger generations will ever be able to afford their own property and in the future, we will become a city(and country) of renters?