7 Apr 2015 By: Bruce Warburton 0 Comment
With Easter and the first quarter of 2015 behind us, the market traditionally readies itself for the peak autumn selling season.
March delivered some outstanding results this year, with a number of property market analysts noting a steep rise in confidence levels, reflected in the strong clearance rates on high auction volumes.
WBP Property Group has suggested that their earlier capital growth predictions for 2015 of seven to eight per cent may prove conservative if the current conditions continue in the Melbourne residential property market.
The last weekend in March saw a record breaking 1400 properties go under the hammer with 79 per cent of them achieving a sale.
The REIV has reported that the clearance rate for the 7000+ auctions that were held in the first three months of the year is 77 per cent—the highest it’s been since 2010.
More and more sellers are sensing the opportunity in the market. If you’ve been thinking about selling, would like to see recent sales results in your area, or would like an up-to-date estimate of your property’s potential in the current market, contact us today.