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Melbourne’s Auction Clearance Rates On A Roll

If you're thinking about selling your real estate in Carnegie, now may be a good time to consider putting your property under the hammer.

The Real Estate Institute of Victoria (REIV) reported that every weekend in August so far has had a clearance rate above 70 per cent. Last weekend (August 10), delivered a 71 per cent clearance with low interest rates said to be building buyers' confidence.

If Melbourne records another clearance rate exceeding 70 per cent this weekend, the REIV states that this year's winter market would be "on track" to achieve the highest clearance rate in four years.

The winter clearance rate in 2009 was 85 per cent, however, it had almost 20 per cent fewer auctions than this year.

The average winter clearance rate last year was 57 per cent, with 2011 recording 55 per cent and 2010 coming in with 68 per cent.

Around 650 auctions are expected this weekend, up from 597 the previous week, signalling a rising confidence in the Victorian real estate market.

The property experts at Ray White Carnegie can help you to secure a great price for your home – speak to experienced auctioneer Matthew Hurlston for valuable advice on selling Carnegie real estate.

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