3 Nov 2015 By: Greg Hocking 0 Comment
There is a better than average chance you will find a property you are looking for this Melbourne Cup week, according to hot-off-the-press data from the Real Estate Institute of Victoria. The REIV reports this year’s first week of November has more properties listed to go to auction than any time in history.
As I write this blog state’s property institute expects 620 auctions in 262 suburbs, more than double the number of auctions held over Cup weekend last year. That is a reflection of how hungry buyers are for our city’s real estate; they are so keen, they are bidding for homes even on their way to major racing events!
Smart vendors realise there are only 7 weeks until Christmas and that if they want to capitalise on this year’s excellent market conditions – strong weekly clearance rates, plenty of motivated home buyers and investors and historically low interest rates – they have got to act now.
The race is on to buy and sell before the business year ends for a few weeks of festive rest. My tip is 2016 is going to jump out of the gates for the property market, so I’d use the next few weeks to get ahead of your rivals.
Call us today for a chat about your property’s form in today’s real estate field.