WBP Market Wrap

Buyer habits shifting with affordability.

Summary
This year - Auctions: 934 / Clearance rate: 74%.
Last year - 
Auctions: 1138 / Clearance rate: 81%.
Source: REIV

The cold and rain kept crowds at bay at the weekend, leaving the market to only those serious about buying. While this gave greater transparency to those who dared brave the weather about the genuine nature of the competition, conditions also led to fast bidding and higher bidding increments at many auctions throughout Melbourne as buyers tried to seal the deal as quickly as possible to avoid being soaked through.

Market performance realigns with autumn average.   

Summary
This week - Auctions 599 / Clearance rate: 73%*
Last year - Auctions 858 / Clearance rate: N/A

Source: Domain; * based on # of properties reported. 

According to Domain there were 599 properties listed for auction in Sydney at the weekend. Of the 402 results reported, the city achieved a 73% clearance rate.

Melbourne market moderates as supply / demand balances.

Summary
This year - Auctions: 631 / Clearance rate: 75%.
Last year - 
Auctions: 1026 / Clearance rate: 80%.
Source: REIV

As the month nears its finale, May figures provide a telling story of a market approaching a balance between supply and demand.

Tight inner city market will continue into winter.   

Summary
This week - Auctions listed 573 / Clearance rate: 77.6%*
Last year - Auctions 750 / Clearance rate: N/A

Source: Domain; * based on # of properties reported. 

According to Domain there were 573 properties listed for auction in Sydney at the weekend. Of the 386 results reported, the city achieved a 77.6% clearance rate.

Melbourne's blue-chip locations smashing the average.

Summary
This year - Auctions: 708/ Clearance rate: 73%.
Last year - 
Auctions: 861 / Clearance rate: 77%.
Source: REIV

Melbourne’s auction clearance rate slipped further at the weekend, the second weekend of decline since an uplift at the end of April. Is this a sign interest in the city’s residential property market is softening, with prices soon to follow?

Clearance rate bounces back as investors return in force.   

Summary
This week - Auctions listed 506 / Clearance rate: 80%*
Source: Domain; * based on # of properties reported. 

According to Domain there were 506 properties listed for auction in Sydney at the weekend. Of the 363 results reported, the city achieved a whopping 80% clearance rate.