26 Mar 2014 By: Greg Hocking 0 Comment
The Commonwealth Bank recently declared Melbourne’s property market to be thriving, with buyers and investors having plenty of choice in the wake of an 11 per cent rise in listing volumes over the last month. The bank tips the market will accelerate even further in the weeks and months ahead.
Property analysts, RP Data echo the sentiment, noting very healthy levels of buyer demand in both the auction and private sale markets. Low interest rates are still the driving force behind this demand which has spurred the autumn market to new levels.
Auction numbers continue to build with as many as 4,500 properties expected to go under the hammer by the end of the month which would set a new record for March. The REIV has reported a robust average clearance rate of 72 per cent so far this year.
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