27 Jan 2017 By: Greg Hocking 0 Comment
Welcome back to the Melbourne property market 2017.
Everything points to another action-packed selling year.
2016 finished on a super high note for Melbourne vendors. Thousands of properties changing hands during December confirming buyers just cannot find enough suitable property to meet their needs.
Clearances of 75% to 80% dominated weekly auction results right up to stumps on December 19.
Yes, it was a heady time for our market, which is why agents and vendors took a well deserved short break from weekly auctions over Christmas-New Year.
But we have rested.
We have recharged.
And we are thrilled to be back on the frontline at one of the most exciting times for property owners in Melbourne history.
Values continue to rise across the spectrum of asset types and suburbs. We see top opportunities for motivated vendors to sell very well this summer because they are guaranteed to benefit from current pent up desire for quality real estate. Buyers have had to wait five weeks now for new stock. They’re raring to go.
Now, I know how much you all love figures (me to). And while they are small – only 56 auctions were listed for this week, according to CoreLogic – this does confirm our industry never completely goes on holiday when the market is as unstoppable as this one.
No sales figures are yet available but I would guess the bulk of these listings did sell under the hammer, and for outstanding prices.
Auction numbers will surge in coming weeks, building up a Super Saturday on February 18 when more than 1,000 properties are already scheduled.
Interest rates are still at record lows. Melbourne still boasts Australia’s strongest net population growth figures.
Mark my words, multiple buyers are ready right now to view your Melbourne property and make an offer.
Call us to today for an obligation-free appraisal of your property.