Melbourne property full of life this autumn.


This year - Auctions: 1094 / Clearance rate: 81%
Last year - 
Auctions: 1218 / Clearance rate: 74%
Source: REIV

Melbourne property delivered the second consecutive super Saturday for the year, with an estimated 1100 properties offered to the market at the weekend. This was a positive start to the autumn market, with clearance rates remaining strong.

According to REIV, the 2016/2017 summer period marks the highest number of auction sales on record, boasting almost 5600 sales – the result testament to the desirability and strength of demand for Melbourne property.

While the balance of power has shifted from investors to homebuyers, both groups remain active participants in the market, albeit competing for somewhat different stock at times.

Houses remain the most sought-after asset among homebuyers, particularly houses with a large land component, with prestige property and single-fronted cottages within 15 kilometres of Melbourne’s CBD the top choice. However, short and medium-term investment returns for these assets are less desirable for investors, who are typically targeting assets under $1 million such as established units and apartments in coveted locations.

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Disclaimer: © 2017 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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