Market moves further in favour of sellers

Market moves further in favour of sellers

16 Jun 2015 By: Greg Hocking 0 Comment

Melbourne’s winter auction action continues to power ahead with a clearance rate of 80 per cent recorded on last weekend’s 766 reported auctions.

The REIV figures from last month’s activity reflect the confidence and activity in the market with 5,000 auctions held in May alone. The clearance rate for these 5,000 auctions was a very robust 79 per cent—significantly higher than the same time last year when the clearance rate was 71 per cent.

It’s also worth noting that in some pockets across the city, particularly in Melbourne’s east, 10 suburbs achieved clearance rates above 95 per cent during May.

Demand from buyers continues to hold strong and the Commonwealth Bank’s home loans general manager noted in a media article this week that the Melbourne market had moved further in favour of sellers.

Our team is fielding buyer enquiries from far and wide for properties across Melbourne. We have a growing list of qualified buyers who are all looking to purchase in the weeks and months ahead.

If selling is something you’ve been thinking about, call us for a no-strings-attached chat today.

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Greg Hocking

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