21 August 2013

Auction Numbers Building

Melbourne´s auction market continues to gather pace with auction numbers and clearance rates

rising steadily - the REIV has calculated a 76 per cent clearance rate for 523 reported auctions

last weekend. This is a marked improvement on the same weekend last year when the clearance

rate was a modest 55 per cent.

These increases are consistent with newly released ABS data which shows home loans for owner-occupier buyers in Victoria increased 8.9 per cent for the first half of 2013.

With competition between buyers showing no signs of abating, sellers are responding to the surge in demand with more properties entering the market ahead of the traditionally busy spring

period - there are 710 auctions scheduled for the coming weekend.

With the end of winter in sight, now is the time to consider your property goals for the remainder of 2013. If you´ve been tempted to sell, current conditions may well be in your favour.

Don´t let your property get lost in the congested spring market - call us today to hear how we can make sure your sales campaign deliver the best possible result.

Greg Hocking