What’s happening to the market on the Mornington Peninsula in 2013?

The property market has seen a general downwards movement over 2012, with prices seeming to have stabilised at the moment. Agents are reporting some higher than expected results, however most sales are in line with the new market levels, and buyers remain cautious.

Properties at the entry level appear to be selling best, and those over median prices for the area struggle to gain interest in many instances. There are numerous instances of little if any interest in properties at the upper end of the market in many areas.

The outlook for the market remain unclear, however it would be a brave person to predict any substantial or sustained growth in 2013.

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