Based on Reported Auction Results*

Solid Demand For Property Continues 

Compared to the same period last year, we have seen higher weekly numbers of properties offered for auction. Alongside that increase in volume, are better auction success rates… Additional properties being offered are not slowing the market’s appetite down. Even the last weekend of August which followed some instability in the share market appeared to be little effected.

The success rate for this year’s winter period was consistently in the “high 70’s” percent range. For last year the rate ranged slightly lower hovering in the low-mid 70’s area – still signalling a very healthy market. Areas generally across Melbourne are experiencing good demand. Whilst not all suburbs are strong on auctions, auctions nonetheless provide a broad view of the overall market’s condition, even in these non-auction regions.

Investment demand continues to be strong. Interest rates appear in no rush to go anywhere but sideways or down. We see no reason to anticipate other than a similar market throughout the spring season…

Contact Renowden Buyers Advocates for your next purchase.