The week ending 27th February again saw homebuyers out in force, with the REIV recording an 84% clearance. This time last year the clearance rate was 78%.
This result is based on 882 auctions reported across Melbourne. 558 homes were sold at auction and 185 were sold before auction, with 139 passed in. 15 properties were withdrawn from sale.
The level of buyer activity across Melbourne at present reflects what is occurring in other capital cities across the country, with demand for housing persistently high. As pointed out by Christina Karras from the Herald Sun, Melbourne’s housing market has been highlighted as the most popular in Australia right now for first homebuyers, with “affordable median house prices in fringe hubs” attracting a lot of interest among potential homeowners .
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less.
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By Wendy Chamberlain
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With a passion for all things real estate spanning 20 years, Wendy loves that her role as a Buyers and Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.wendychamberlain.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.