The week ending 3rd July delivered a clearance rate of 80% from 719 auctions, according to REIV data. At the same time last year, there were 362 auctions reported and a clearance rate of 70%.
437 homes sold at auction and 140 sold before auction, with 141 passed in. 18 properties were withdrawn from sale.
Competition remains strong for real estate across Australia. As Rachel Wells reported over the weekend, “Melbourne home values are 5.3% higher than their previous pre-COVID peak reached in March 2020”.
With the new fiscal year now underway, a range of government support measures now come into effect and are expected to be capitalised on up by prospective buyers.
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.
Ask about our Home Buyer Search and Acquisition Service, where we do all of the legwork on your behalf to MAKE IT EASY to secure your new home.
Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?