SUMMER ARRIVES WITH SCORCHING SALES

SUMMER ARRIVES WITH SCORCHING SALES

5 Dec 2016 By: Greg Hocking 0 Comment

Summer is finally here and real estate world – like Mother Nature – has responded with gusto.

If you weren’t drawn to Port Phillip Bay over the weekend for some well overdue beach ‘fun in the sun’, results from Melbourne’s property market suggest you may have been at its 1,075 auctions.

If so, thanks for coming!

I woke up this morning to read the Real Estate Institute of Victoria is reporting 79% (850) of those 1,075 properties sold.

That builds on a string of bumper weeks for local agents and vendors.

Just last week Victoria recorded 77% of 1,618 listed properties sold at auction, according to CoreLogic.

Another big week of valuable, tightly held Melbourne stock is up for purchase this week, leading up to Saturday, December 10.

There are only two weekends left until our industry’s Christmas-New Year break for real estate auctions.

Based on this year’s unstoppable appetite for property, reflected in the weekly results, we expect high sale prices and auction clearance rates all the way to December 17-18.
If you have any hope of ‘wrapping’ your next property purchase before the man in the big red suit arrives, I would be getting ready to bid this fortnight.

There is no better gift to give – as either buyer or seller – than a pre-Christmas property sale with your signature on the contract.

 

Get ready to sell your property next year – call our team today for an obligation-free appraisal.

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Greg Hocking

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