Spring is known as the prime time for selling property. This is commonly attributed to a combination of nature's bloom making houses look more radiant, and families wanting to have their new home ready to move in by the holiday season of summer.
Figures from CoreLogic RP Data reveal strong auction sales volumes as we kick into the season's second week, seeming to support this notion around spring. Across Australia, 2,272 auctions were held – a slight dip from last week's figure of 2,654.
Still, this an increase from 2014's numbers, which saw 1,897 auctions held on the same weekend last year. A preliminary clearance rate of 74.9 per cent was recorded, a bump up from last year's final clearance rate of 74.1 per cent.
Melbourne saw 998 homes go to auction in the recent weekend, with a strong 76.2 per cent of them being preliminarily cleared. This makes it the city with the second highest auction clearance rate after Sydney, which saw a preliminary clearance rate of 78 per cent.
Property Data stats show that no fewer than six pieces of real estate in Bentleigh went to auction, with five of them being sold under the hammer. What's more impressive is that all of these properties sold for more than $1million, with the greatest sale recorded at $1,825,000. As we enter further and further into spring, we'll likely see these values rise as spring time competition intensifies.
Have real estate in Carnegie, Bentleigh or Oakleigh that you want to sell at a booming price in this ripe season? Going to auction might just be the best way. Get in touch with Matt Hurlston and the friendly team at Ray White Carnegie. We'll guide you through every step of the process and make sure you get the best price for your property.
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Article Source : Click Here Nerida Conisbee – Chief Economist In property markets, price pressure usually flows like water – when buyers can’t afford their preferred suburb, they move to the next-best alternative nearby. This “spillover effect” drives faster price growth in adjacent, cheaper areas as displaced demand seeks similar … Read more