It’s been a great start to the year for Melbourne’s property market, the city has been returning the best numbers since last winter in fact.
On Saturday Melbourne recorded a healthy auction clearance rate of 75 per cent from 973 reported auctions.
Andrew Wilson from Domain Group was impressed with the numbers, especially seeing as the majority of properties were inner-suburban.
“Sellers who are thinking about a post-Easter sales program would certainly be encouraged by what are the best Melbourne auction results since last winter,” he told Domain.
Despite many buyers and sellers being fairly cagey at auction time to try and secure the best possible deal, real estate agents say it’s very hard to snare a bargain for a property that has been left on offer after a buyer-seller standoff.
Around the country the clearance rates were similarly healthy, with the nation-wide numbers staying over 70 per cent.
“This week marks the fourth consecutive week of the combined capital city clearance rate being above the 70% mark, with the stronger than expected auction results continuing through the final week of February,” said Corelogic RP Data.
“Capital city auction results haven’t recorded a four week period where the clearance rates was consistently higher than 70% since early September last year.”
February’s capital city house price index figures from CoreLogic Data will be released this week and are expected to show broad-based house price gains in all capital cities except for Perth.