2016 Auction market begins on encouraging note

2016 Auction market begins on encouraging note

27 Jan 2016 By: Greg Hocking 0 Comment

The entire Victorian real estate industry returned to work this week after its traditional break from weekly auctions over Christmas/New Year. And what a return it was! According to CoreLogic RP Data 57 auctions were held across Melbourne this Australia Day weekend, of which 67% sold, which proves the market has lost none of its 2015 zip.

Next week we’ll see auction numbers jump up to a more typical volume as public holidays always tend to curb listings (understandably, vendors prefer to wait until most potential buyers are back from long weekend getaways).

With virtually all national commentators expecting Melbourne’s residential real estate market to lead the charge in 2016 in terms of capital value growth, we are thrilled to see vendors in the box seat to ride this current wave of strong buyer demand for quality real estate in this great and growing city.

Victoria’s capital city resident population continues to grow faster than any of its metropolitan rivals. It is definitely benefiting from the relatively low Australian dollar compared to overseas currencies as it means our properties represent exceptional value for money for the 1,000s of resident who move here from interstate and overseas every year. It is pleasing so many eager to secure quality suburban houses and inner city apartments.

hese buyers see intrinsic value in our market, which we believe ensures strong long-term gains for homeowners and investors.

If you are thinking of selling, please call today to find out how we can help.

Greg Hocking

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