The National Land Survey Program carried out jointly by Research Four and property consultants Charter Keck Cramer has determined that Melbourne land sales are at a high of nearly 30%. When compared to Melbourne’s last property boom, where they averaged 4% it shows the weakness in the Melbourne market. Fallovers are highest in the outer suburbs of Melbourne where oversupply is the greatest. It is a classic case of oversupply as compared to demand. Any property advisor will tell you that will exclude that market to buy in until that balance is reversed.
