How to buy a car that will cost more than $200,000 in Melbourne
In the Melbourne CBD, cars are selling at the highest price since the housing crisis, with prices on the auction block soaring to $200 and $300 million, and some going as high as $500 million.
Read more about cars, cars, car prices, car sales, car-buying, car dealers, car auctions, car, car dealer, car auction, car sale source ABC World News (AUS) title Car prices are up across the country, and Melbourne is one of the hot spots with a high-profile car auction article With an ever-growing number of cars on the market, Melbourne has been dubbed “the city of cars” and is one the hottest markets for car dealerships.
In the CBD, there’s even a high street called “Carbroker”.
It’s a major car auction venue with a large selection of luxury cars and some of the highest-priced vehicles on the block.
But the auction blocks in Melbourne are not just a place for buyers to put down cash, but also for car salespeople to put in their bids.
As a result, it can be difficult for car buyers to make sense of what they’re being offered.
“We’re always looking for people who know how to go about this,” said Mark Tully, an agent at carbroker.
“It’s a big part of our business.
We’re always trying to find people who understand the market.”
The high demandThe demand for cars is only increasing.
A decade ago, the average price of a new car in Melbourne was $200 000.
That’s now more than double that.
The market is also growing.
According to carbrock, sales of luxury and high-end cars in Melbourne in 2017 were $17.5 billion, or nearly one third of the total car sales in the city.
In 2018, the most expensive car on sale was the £220,000 McLaren F1, which went for $250 000.
The most expensive luxury car sold in Melbourne last year was the $400,000 Mercedes-Benz SLS AMG, which was also a top-10 seller in the world.
But the real driver for the price of new cars in Victoria is demand from local buyers.
“The main thing that’s driving the price up in Melbourne is the population growth and the population density,” Mr Tully said.
“If you look at Melbourne from the west, that’s where the growth is happening.
The average house is around 5.8 square metres and it’s growing at a really fast rate.”
While cars are being bought and sold, they’re also being resold on the secondary market.
“It’s the secondary marketplace that’s really driving the growth,” Mr Turley said.
So far this year, there have been more than 5,000 auctions of luxury vehicles in Melbourne.
And there’s more to come.
In September, a new government regulation will force all new car owners to declare where they live, and will require them to pay more attention to their properties.
Victoria’s new car law will be in place from August 1, 2018.
The government wants to make it easier for people to buy their cars on their own.
Topics:government-and-politics,car,consumer-protection,car-safety,government-parliament,market-and_pricing,marketplace,finance,economy,melbourne-3000More stories from Victoria