21 Nov 2016 By: Greg Hocking 0 Comment
With barely a week until the end of official spring 2016, let’s take stock of the season.
Local and international news feeds stay consumed with the wash up from the US election. Analysts of all political leanings grapple with what Trump’s election means to the global outlook.
Some ‘typical’ spring time weather is finally shining through (IE multiple sunny mild days in a row).
This weekend – November 19 and 20 – has been a treat to locals after months of gales and wintery temperatures.
And, as expected, official auction clearance rates confirm just how splendid it was outside last Saturday.
National company CoreLogic captured the results of 1,118 of Melbourne’s 1,299 scheduled residential auctions and reports 79.4% of properties sold, a fantastic result for vendors.
According to the Real Estate Institute of Victoria, 80% of its 976 reported auctions resulted in sales this week.
Strong results like this have been ‘the norm’ for spring and confirm that four out of five listings that undertook four-week auction campaigns have sold this spring.
Correctly priced housing in desirable locations at all price points just continues to attract historically large numbers of buyers to public auctions and those people are very prepared to bid competitively at inner- and middle-suburbs’ auctions to secure properties they know are excellent long-term investments in a growing and prosperous city.
I cannot remember a better time to go to market than the one I am witnessing right now.
With summer a week away, call our team today for an obligation-free appraisal of your property.