24 Feb 2016 By: Greg Hocking 0 Comment
Melbourne was buzzing this weekend as it conducted its first Super Saturday of 1,000+ auctions for the New Year.
According to the Real Estate Institute of Victoria (REIV) 1,020 residential auctions were scheduled to take place across 259 suburbs on February 20-21. It will be our market’s first big test of 2016.
On the same weekend in 2015, a comparable 973 housing auction results were reported; 75% of them sold under the hammer.
As I write this note it’s still too early to call it, but we are extremely confident our vendor clients preparing to go to auction this week will find themselves in the box seat for witnessing competitive bidding and healthy sale prices.
Last week, 539 auctions occurred in Victoria producing another impressive clearance rate. About three in four properties sold, according to figures from CoreLogic RP Data.
Our local real estate market has now returned to full-swing after our short summer break and we seeing 1,000s of prospective buyers attending our property listings’ weekly open houses, keen to secure contracts on properties before this year gets away (is it just me or do they seem to be going quicker?)
If you want your property ready for Melbourne’s next Super Saturday, call our team today.