Summer leaves a hot property market in its wake

Summer leaves a hot property market in its wake

28 Feb 2016 By: Greg Hocking 0 Comment

What a remarkable start it has been to Melbourne’s 2016 real estate selling season!

As I write this report the preliminary results from the weekend’s epic auction program are filtering in and I can tell you, figures look upbeat.

According to CoreLogic RP Data there were 1,327 residential housing auctions held on this final weekend of February 2016 and a massive 75% of those properties sold under the hammer.

That’s a rise on last week’s 74.1% clearance of 1,105 listed properties and only a smidgeon down on the comparable week of 2015.

Stock levels are still very tight after the New Year holiday period, when no auctions were scheduled meaning any remaining properties for sale were virtually cleared out via private treaty sales.

This shortfall in new listings has further fuelled buyer demand caused by current historically low interest rates.

And with Easter coming early – yes, it’s less than a month away –and the Labour Day long weekend next week, motivated buyers are keenly aware it’s unlikely they’ll see a surge of new listings before the next holiday period.

This makes it a prime time to go to market.

If you want to secure an autumn sale, contact us today for an obligation-free appraisal.

Greg Hocking head shot 200_200

Greg Hocking

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