I'm looking into buying a property which was just listed on RealEstate.com.au and seems to check all our boxes, so going to inspect it on Sunday. However, doing a bit of research I found out that the same property was sold by the same agent just 3 years ago. They are asking for offers over $600k and the property was sold for $540k in Dec, 2013.
Just want to get some advice; for the Cranbourne area (in the Avenue Estate, relatively close to the shopping centre/buses) whether its reasonable for property values to appreciate by over 11% in 3 years? Also curious as to why its back on the market so soon but I understand that could be a plethora of reasons, so I'm not going to dig too deep into it. If it satisfies my family's needs and passes the building inspection - then I will be happy!
Thanks for any advice in advance