WBP Market Wrap

Low stock levels leads to softening in prices

Melbourne’s auction market saw another stable performance at the weekend, clearing 60 per cent of a reported 566 properties.

While percentages show little change in activity over recent months, a shortage of stock is increasingly problematic and to some degree supporting current clearance levels.

Rainy days no detterent for buyers

Melbourne’s deteriorating weather conditions were no deterrent to buyers at the weekend with the metro clearance rate remaining relatively stable as 59 per cent of a reported 586 auctions sold.

Melbourne’s inner suburbs were the standout performers with strong results for quality assets priced at around half a million dollars.

Aspiring buyers drive sales in inner Melbourne

Melbourne’s auction performance stayed true to recent trends at the weekend achieving a sound clearance rate of 62%, based on 529 reported auctions.

While giving a solid performance overall, Melbourne’s inner suburbs including Carlton, Fitzroy, Richmond and St Kilda were standouts, with buyer competition driving strong prices.