Melbourne’s auction clearance rate slipped further on Saturday with 61 percent compared to last weekend’s 65 percent. The number of scheduled auctions dropped to 25 from the previous 1,715 as the property market slows down due to the Easter break.
The number of reported auctions was down to 15 while the total number of properties sold was 11. Total sales recorded was more than $4,562,000.
According to CoreLogic, a total of 115 homes went under the hammer over the weekend. The suburb of Mornington Peninsula had the most number of listings based on the auction pages of realestate.com.au.
Wakelin Property Advisory director Paul Nugent said last Saturday was the most ideal time to auction a beach holiday home such as in the Mornington Peninsula or Bellarine Peninsula. The reason was that many people were in those locations at that time during the Easter break.
Meanwhile, a growing number of Melburnians are targeting the Ballarat property market. Real estate agents said they have received inquiries between 40 and 47 percent from prospective buyers based in Melbourne. Different types of buyers including young first-home buyers have been noted to visit open homes lately. Among the factors attributed to the high inquiries are Ballarat’s comparably low prices, high rental yields, presence of period homes and new housing estates and close proximity to Melbourne’s Central Business District.
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By Wendy Chamberlain
Copyright 2018 | All Rights Reserved
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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a Buyers Advocate gives her buyers an experienced voice they can trust when it comes to negotiating to purchase something as important as their new 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.FollowWendy.com 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.
