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Melbourne Records 82 per cent Auction Clearance Rate

If you're considering selling your Carnegie real estate now may be a good time to act, as the spring selling season in Melbourne shapes up to be a good one.

The Real Estate Institute of Victoria (REIV) revealed that a clearance rate of 82 per cent was recorded last weekend (August 24), with this figure significantly higher than that recorded for the same weekend last year, which only achieved a clearance rate of 57 per cent.

For the weekend just passed, there were 573 auctions reported to the REIV, with 467 selling, 106 passed in and 60 on a vendor bid.

The Australian Property Monitors (APM) reveals that auction listing numbers are increasing – REIV expects around 850 auctions next weekend – which indicates rising seller confidence in the market.

The APM stated in a August 23 media release that Melbourne's selling season is turning out to be the "best in years" with rising buyer and seller momentum compelled by "historically low interest rates, increased confidence and a solid performance by the local economy".

Get in touch with Matthew Hurlston of Ray White Carnegie for valuable advice on putting your real estate in Carnegie on the market.

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