The week ending 15th August delivered a clearance rate of 95% from the 374 auctions reported for the period (based on REIV data). At the same time last year, 107 auctions were reported and an 89% clearance rate achieved.
213 homes sold at auction and 142 sold before auction, with 19 passed in. 205 properties were withdrawn from sale and another 478 auctions were postponed.
As we outlined in this recent blog post, live auctions and property inspections are not permitted under the current level of restrictions in Victoria. So while the market remains subdued right now, we can expect pent up demand to hit the market in full swing once restrictions are eased.
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?
