March 18, 2013
by Antony Bucello & Catherine Cashmore from National Property Buyers - 17th March 2013
After a lull last weekend during which there were only 200 auctions recording a clearance rate of 61 per cent, we were once again back to 2013′s improving trend with a clearance rate of 69 per cent based on 804 auctions.
There’s no doubt the market has turned in Melbourne – according to RPData, Australia’s property market is worth an estimated $4.86 Trillion which is three and a half times the value of Australia’s stock market and combined Superannuation funds. It’s therefore no surprise that the health of our property market obsesses the conversations both of those in and out of the business of real estate.
We haven’t yet fully shifted to a ‘sellers market’, with a number of quality properties still passing in despite realistic vendor expectation. However, when properties are selling, they’re managing to achieve robust results with more than a few confident bidders to move the price upwards. Read more.