REAL estate agents in the Mordialloc-Chelsea area have dismissed speculation Melbourne’s property price boom is set to burst.
With interest rates rising and auction clearance rates dropping this month, many commentators have predicted the start of a market downturn.
But Biggin and Scott Chelsea director Andrew Purton said prices would keep increasing because housing stock levels remained low.
“Winter and pre-election times traditionally tend to take some of the heat out of the market, but things are still looking very positive,” Mr Purton said.
