There were 888 auction results reported this week, ending the 5th March, approximately double the number compared to this time last year. A total of 683 were sold at auction and 205 were passed in. Data from the Real Estate Institute of Victoria report a clearance rate of 77%.
According to Domain’s auction report for February 2022, Melbourne had the highest number of auction listings for the month since Domain records began. It also reported that clearance rates were slowing as a result of increased volumes and reduced competition.
The report stated that Melbourne’s median auction house price is up 7.5% over the year to $1.21 million but price momentum has slowed and that houses continue to outperform units.
Did you know that we offer a bid at auction service? If you have already found a property you are interested in and would like a professional to help secure the property for you by bidding on auction day, Chamberlain Property Advocates can help.
Talk to me about how I can help you buy your new home faster, for less.
We do offer our negotiate service for those buyers in the market looking to pounce on opportunities that arise. Get in touch if you’d like to know more.
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?
By Wendy Chamberlain
Copyright 2022 | All Rights Reserved
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With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent or 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.chamberlainadvocates.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.
