Auction numbers may reach new highs this season

Auction numbers may reach new highs this season

16 Mar 2016 By: Greg Hocking 0 Comment

I can’t recall a better start to autumn than the one we are seeing in Melbourne right now.

According to peers in property data collection, Melbourne is on track to post a record autumn for auction listings, which is truly remarkable given the slightly softer end to 2015 when clearance rates stabilised at a very solid 60%-70%.

Last weekend there were more than 1,000 auctions returning a clearance rate of 74%, according to the Real Estate Institute of Victoria.

Next weekend there will be almost 1,600 auctions, according to figures from Australian Property Monitors.

This weekend, auction numbers dropped to about 400 as it was the Labour Day long weekend.

But even that number is bigger than I have seen on comparable weekends over recent years.

So, despite the fact March 2016 has two long weekends among its four weekends, and despite the fact agents often prefer to run auctions when buyers aren’t planning short getaways, Melbourne’s enthusiasm for residential property just cannot be contained.

We are on track to break a seasonal record, which illustrates the enormous confidence of this local market.

Call us today if you are thinking of joining this autumn’s history-making selling season.

Greg Hocking head shot 200_200

Greg Hocking

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