The spring selling season is fast approaching and it’s good news for Melbourne’s property market, it’s in the healthiest state it’s been for some time.
It was a good weekend for clearance rates, with Melbourne recording a 77.7 per cent rate from the 650 listed auctions.
A total of$294.8 million was sold with a median auction price of $835,000.
Next weekend is the first week of the spring selling season with the number of auction listings jumping to 900.
Over the last month the auction market in Melbourne has been strengthening and things look cherry ripe for a bustling spring selling season.
Melbourne has recorded a clearance rate over 75 per cent for four weeks running for the first time in 12 months.
The industry is excited by the coming season, last year things were looking good but momentum was lost after banks lifted mortgage rates off the back of pressure from financial regulator crackdowns.
This year, the property market in Melbourne is clearly on the up and we could see price growth continue as it has over the last few years.