Prices set to continue their upward climb

Prices set to continue their upward climb

24 Jun 2015 By: Greg Hocking 0 Comment

Consistency has characterised Melbourne’s auction market in recent months and last weekend’s 79 per cent clearance rate from 867 reported auctions shows the trend continues.

With almost 17,000 auctions held already this year, with strong results delivered to many sellers, the outlook is positive for the months ahead.

The results from the Australian Property Institute’s 34th Property Direction Survey indicate that the majority of industry professionals—including valuers, fund managers, financiers and analysts—expect that property prices in Melbourne will continue to rise.

In fact, 75 per cent of respondents tipped Melbourne prices will increase for at least another 6-12 months.

This is encouraging news for sellers in the winter/spring markets and beyond. If current conditions continue, we’re likely to see strong auction results across Melbourne right through to the end of the year.

As June 30 approaches, many of us take a close look at our financial position and scope out our plans and goals for the year ahead. If buying, selling or investing in property are among your goals, call us for great results.

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Greg Hocking

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