22 Sep 2015 By: Greg Hocking 0 Comment
Another week, another Prime Minister: and another great week for real estate.
With this week’s headlines dominated by yet another change in federal leadership, there is no sign this historic event had any impact on the health of Victoria’s residential property market.
In fact we have just recorded another cracking week of home auction sales. According to CoreLogic RP Data the preliminary clearance rate is 73.3%, even higher than a year ago when it was a very upbeat 72.1%.
And it’s not just Melbourne homes transacting with vigour. With national news in the spotlight, here’s a snapshot of the auction market across Australia this week. There were 2,493 auctions held across capital cities this week. More than 2,400 auctions took place in four of the past eight weeks; over the same period last year only one week posted that many listings.
My reading of these figures is the smart vendor knows there has never been a better time to go to market given current record numbers of buyers readily investing to capitalise on today’s record low-interest rates.
Of course nothing lasts forever. Modern PMs, it seems, are lucky to last a term. So if you’re thinking of selling, 2015 is a prime time.
Call us today for a home appraisal and to hear more about our local market outlook.