Spring has always been the traditional time to sell, when Melbournians are ready to venture outside after their Winter hibernation. And the good news is Auction clearance rates are right up. Last week we saw a clearance rate of 75% in Victoria, compared to 62% for the same time last year. If these are the Winter clearance rates, we can only imagine what the Spring selling season will bring. The buyers are out there and ready to buy – they just need a good selection of stock to choose from. And more buyers mean more competition, the perfect conditions to drive prices up.
Of course, there are other factors that determine when you are ready to sell. The season is not the only factor – you may need to upsize due to a growing family, downsize if you are “empty nesters”, decide you’d like something easier to manage or more affordable. However, if you are buying and selling within a short time frame, then you are dealing with the same market and there’s really no reason to wait. And if you’ve been feeling “on the fence” then taking the plunge in Spring is likely to give you the best pool of buyers Melbourne has seen for some time. With only a couple of weeks to go until the official start of the season, this leaves a perfect window of opportunity to get the garden ready, add a lick of paint, organise furniture and photography. You wouldn’t want to miss out!
Source: https://reiv.com.au/market-insights
By Jennie Duggan
27 August 2019
Our auctioneer extraordinaire Michael Szulc lending a hand at the fundraiser bash for South Melbourne Park Primary School
08 August 2019
81 Bridge Street Port Melbourne gets a new lease of life