Summer frenzy builds with countdown to festive season.

Summary
This year - Auctions: 1001 / Clearance rate: 80%
Last year - 
Auctions: 1346 / Clearance rate: 65%
Source: REIV

With just four weekends remaining until Christmas, the pressure on property pundits is mounting. Failure to buy or sell in the next four weeks will mean a wait of up to eight weeks in most cases as the market pauses for the summer break.

Unsurprisingly, this is leading to an increase in property listings, with the weekend giving rise to over 1000 auctions, of which 83% of houses and 74% of units were sold, presenting an overall average clearance rate of 80% for the weekend.

Strong clearance rates during the last two quarters have seen a gradual lift in the year-to-date clearance rate to an estimated 75%.

This week's auctions

Each week WBP’s property advisers review hundreds of properties and attend auctions throughout Melbourne,
ranking each property on a scale of 1 to 10 based on its investment potential. This week their focus is on...

 161121 126 The Parade

161121 1.5 Wimbledon Avenue

161121 8.14 Creswick Street

Investment rating:

7.0 / 10

Investment
rating:

6.5 / 10

Investment rating:

7.5 / 10

126 The Parade, Ascot Vale

1/5 Wimbledon Ave., Elwood

8/14 Creswick St., Hawthorn East 

Bed 2    Bathroom 1   Parking 0

Bed 2   Bathroom 1    Parking  1

Bed 2Bathroom 1   Parking 1

Suburb median house price (REIV)

$1,094,000

Suburb 
median unit price 
(REIV)

$659,000

Suburb
median house
price 
(REIV)

$730,000

SOLD: $1,010,000

SOLD: $685,000

SOLD: $663,000

This block-fronted Victorian terrace is walking distance to local Union Street village, multiple transport options and Maribyrnong River precinct. Although the property comprises two bedrooms, generous living zones, favourable northerly rear aspect and deep backyard, the bathroom’s adjacency to the meals area is not ideal.

Set in a beautiful Art Deco block of only four in a quiet tree line avenue, this two-bedroom ground floor apartment comprises entry hall, modern kitchen, living/dining room, front courtyard and off-street car parking. The apartment's proximity to the block’s driveway leads to privacy issues from most rooms in the apartment.

This recently updated two-bedroom apartment resides on the top floor and boasts great aspect and views. While compact in size the functional floor plan with outdoor balcony provides pleasant apartment living. However, the position of the lock up garage on a steep decline directly off the street makes for difficult access – a limitation for some prospective tenants and home owners, which impacts future marketability. 

Speak with a WBP Property Adviser about how we save you time and improve your chances of buying a property with the right fundamentals for growth. To find out more click here or contact us on 1300 302 581.



Disclaimer: © 2016 WBP Property Group (WBP). The WBP Market Wrap has been produced as a general guide and does not constitute advice. While it was produced in good faith and with due care, no representation is made for the accuracy of the whole or part of the document. WBP accepts no liability for damages suffered by any party resulting from their use of information in this presentation.


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