logo
  • Home
  • Buying
  • Selling
  • Renting
  • Calculators
  • Our Company
  • Newsletter
  • Blog
  • Links
  • Contact Us
  • 28 Alvina Street, FERNTREE GULLY  VIC  3156

    28 Alvina Street, FERNTREE GULLY VIC 3156

  • 2/24 Flower Street, FERNTREE GULLY  VIC  3156

    2/24 Flower Street, FERNTREE GULLY VIC 3156

  • 16 Como Close, CROYDON  VIC  3136

    16 Como Close, CROYDON VIC 3136

  • 1/31 Alma Avenue, FERNTREE GULLY  VIC  3156

    1/31 Alma Avenue, FERNTREE GULLY VIC 3156

  • 3 Grevillea Avenue, BORONIA  VIC  3155

    3 Grevillea Avenue, BORONIA VIC 3155

Contact Us

(03) 9800 0700

Email: wantirna@hillre.com.au

   

Tweets by @hillrealestate1

Sep 3rd, 2013 

Record auctions predicted for Spring

Posted By Darren Hill in Blog

A SURGE in auction numbers after the election will officially kickstart what promises to be a strong spring property market for Melbourne.

The combination of the federal election and the AFL Grand Final have pushed almost 2000 homeowners to list their property for auction in the two weeks between the two big events.

The Real Estate Institute of Victoria is expecting up to 1000 auctions in a Super Saturday event on the weekend immediately after the poll. A further 900 are anticipated the following week.

Its predictions come after RP Data recorded a preliminary clearance rate of 73 per cent in Melbourne last weekend. According to RP Data, the clearance trend in Melbourne for auctions is 72 per cent.

The winter selling market was the strongest in recent years, but according to RP Data analyst, Cameron Kusher, there is further room for improvement.

“Given the strong winter season there’s definitely potential for the market to go back up to the 80 per cent clearance rate,” Mr Kusher said. “It’s been a long time since we have seen those levels – but it’s a real possibility.”

But even strong sales won’t result in the same massive price growth for property of 12 to 13 per cent a year seen in 2010, according to Mr Kusher.

RP Data figures indicate about 22 per cent of properties in Melbourne are selling via auctions, but that ratio is expected to grow after the election.

“A lot of real estate agents around the country seem to see a lot of people holding off going to market until after the elections, and buyers may have a bit more confidence after the election as well.

Buyers advocate Monique Wakelin, Wakelin Property Advisory director, echoed the sentiment and said it was possible a “honeymoon period” may lend strength to the market in the two weeks following the polls.

But the real strength of the market would only be revealed in October when pent up demand from the winter months cleared.

“We have the football finals and now we have the election and it wouldn’t surprise me to see significant fluctuation in the clearance rate,” Ms Wakelin said.

“But the acid test will be into October … if we still see clearance rates in the high 70s and into the 80s it will be a sign the market has turned.”

 

Check out last week’s sales results in our interactive map below. Zoom on the location to see details of properties that sold.

Read more: http://www.news.com.au/realestate/news/record-auctions-predicted-for-spring/story-fndba8uq-1226709645743#ixzz2drs1s0rC

Darren Hill
Director/OIEC Wantirna Office
9800 0700
Email
Darren has lived in the local area for over 20 years. Darren Hill the director and founder of Hill Real Estate himself entered into real estate in 1990. The passion for meeting people and helping people is still Darren’s driving force. After starting his career in franchise companies as an awarded salesperson his vision to be a truly independent agent was shortly realised. His continual drive to improve with a prominent central position are the ingredients to achieve the most respected agent in the City Of Knox/Foothills. Darren believes a career in real estate is rewarding for the people you meet who welcome you into their lives and the sobering experiences and maturity gained from those relationships. Darren is a Past President and current active member of Rotary Club of Knox and received a Paul Harris Fellow in recognition of service. Darren’s passions are his family and motor racing. To experience the Hill Real Estate difference please contact Darren on 9800 0700.
Read More
Copyright © 2022 All Rights Reserved Hill Real Estate
Web Site by PC Tune
We use cookies to ensure that we give you the best experience on our website. If you press "OK" and/or scroll down to continue to use this site we will assume that you are happy to accept.OkPrivacy policy