Confidence returns to Melbourne's Property Market, but can it be sustained?

by Antony Bucello & Catherine Cashmore from National Property Buyers - 3rd March 2013

A 69 per cent clearance rate was recorded this week – a little less than last week’s revised 72 per cent however, with a larger proportion of missing results yet to be recorded, it’s clear a greater number of ‘post auction’ negotiations were taking place behind closed doors.

Whilst the clearance rate is a good barometer of the ‘heat’ in the market, the all important number is the total recorded figure of weekly transactions (both by private sale and auction.)

Last year, we were struggling through extended periods during which anything in excess of 800 was considered ‘healthy,’ however following a rather ‘robust’ 1168 sales last week, this week’s transactions came in at 1217. Historically – this is about as high as it gets. Read more.

Posted in: Property market

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