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Record high auction numbers for November

By Matt Hurlston

Homes have been flooding the auction market. If you're planning to buy real estate in Bentleigh through this process, you might be spoilt for choice.

Numbers show that Melbourne continues to prove itself as the auction capital of the country. A 27 November release by the Real Estate Institute of Victoria (REIV) showed that last November was the biggest ever month for auctions in the state's history.

Almost 5,800 properties went under the hammer over the span of just four weekends. Coincidentally enough, the previous record was also in November last year, when 5,300 homes went to auction. The final weekend of the month saw 1,810 properties scheduled for the hammer, which could be another record breaker in itself if most of these homes did go through with the auction. 

In fact, findings show that the whole of 2015 has been a fairly terrific year for Victoria's market, which has been reflected in the red-hot auction momentum.

"Victoria's buoyant property market has recorded solid price growth over the past year with buyer demand and record low interest rates encouraging more vendors to sell their homes at auction," REIV CEO Enzo Raimondo said.

With so many homes being put for sale, it can only mean great things for buyers. More choices mean it'll be easier to find something that suits your living needs or investment goals.

Bidding for a Bentleigh property

Don't worry, if you're still searching the market for real estate in Bentleigh, you're not too late to the party. Mr Raimondo said that soaring auction numbers are predicted to persist until later this month. If you're thinking of diving head first into the bustling auction market but are not quite sure how, give us a ring. The auction process can be overwhelming for some, but Ray White Carnegie will guide you along and advise you on everything you need to know.

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