Clearance rate reflects rising tide of buyer demand

Clearance rate reflects rising tide of buyer demand

26 Feb 2014 By: Greg Hocking 0 Comment

Melbourne’s auction market is rising with more than 1200 properties going under the hammer last weekend according to the REIV. Demand from buyers did not falter under the weight of the high volume, with a clearance rate of 75 per cent recorded.

Good quality properties that are well-presented, well-priced and well-marketed are attracting strong competition at auction with some experiencing bidding from five or more serious bidders.

Family homes in the inner suburbs, particularly those close to good schools and transport, remain in hot demand with many purchasers looking to take advantage of the favourable selling conditions to upgrade.

Investors are targeting well-located apartments in and around the city with many prepared to pay very solid prices to expand their investment portfolio.

As we farewell a long, hot summer there’s no evidence to suggest the property market will cool with the weather. Autumn is traditionally one of the most popular selling seasons in Melbourne – call us today for a no-obligation appraisal of your property’s potential value in the autumn market.

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Greg Hocking

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