Buyer demand fuels competition

Buyer demand fuels competition

24 Mar 2015 By: Greg Hocking 0 Comment

Melbourne’s property market continued its steady rise last weekend with another 77 per cent clearance rate on 1053 auctions reported to the REIV. In the east, the clearance rate has surged as high as 85 per cent.

With interest rates spurring a fresh wave of buyers into the market, competition among purchasers is climbing. CoreLogic RP Data has tipped auction volumes in 2015 will exceed last year’s record-setting levels.

This news comes on the back of the latest figures from the Commonwealth Bank-CoreLogic RP Data index which suggests the market is favouring sellers. More buyers are looking to purchase and take advantage of low interest rates but they have fewer properties to choose from compared to the same time last year.

Our offices have a growing number of buyers making contact every week and our database of genuine buyers gets bigger every day.

Sellers: take advantage of the favourable conditions by contacting us for a no-obligation appraisal of your property’s potential value in the current market and complimentary reports of comparable sales in your area. Don’t wait any longer – call us today.

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Greg Hocking

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