In good news for those selling Carnegie real estate, conditions in Melbourne's auction market continue to be positive as the winter selling season comes to an end.
Last weekend's clearance rate of 79 per cent from 651 auctions stands well against previous years. In 2012, the same period saw a 63 per cent clearance rate from 564 auctions, while in 2011 there was a 52 per cent clearance rates from 602 auctions.
The Real Estate Institute of Victoria (REIV) says that more vendors are choosing to sell by auction in 2013 with more than 17,000 auctions held to date. This is 13 per cent higher than the same period in 2012.
REIV adds that the higher clearance rate achieved so far this year has resulted in more homes sold by auction than in 2011.
In the last weekend of winter REIV expects around 830 auctions. This is the first time the number of auctions have exceeded 800 since March.
"This higher number of auctions is a combination of some auctions being brought forward due to the election next weekend and an overall improvement in market conditions which has encouraged more sellers to put their homes on the market," the REIV stated on August 29.
Take advantage of the positive selling conditions and contact Matthew Hurlston at Ray White Carnegie for advice in selling your property.
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