The week ending 7th August delivered a clearance rate of 90% from 391 auctions reported for the period (based on REIV data). At the same time last year, 179 auctions were reported and a clearance rate of 90% achieved.
265 homes sold at auction and 88n sold before auction, with 38 passed in. 116 properties were withdrawn from sale and another 699 auctions were postponed.
The unexpected, 7-day lockdown announced last Thursday has obviously had a substantial impact on auctions and inspections scheduled this weekend, causing the expected number of sales to be revised down.
Nevertheless, the housing sector remains buoyant and is expected to bounce back quickly once restrictions ease.
At Chamberlain Property Advocates, we’re still busy behind the scenes as the market shifts online. Opportunities can arise at any time and we’re always working to secure the best deals on behalf of our clients.
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.
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?
