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Spring selling season smashes auction records

By Matt Hurlston

Auction activity was at its best over the spring months, as the latest figures point to a number of records being smashed in 2015. The Real Estate Institute of Victoria (REIV) revealed that the three-month period was a hotbed of activity for real estate in Carnegie going under the hammer.

During the last week of spring, the REIV revealed a record number of homes went up for auction on just one day – 1,648 to be precise. This is 22 higher than the previous record, showing that buyers are keen to head to sale rooms to secure their ideal homes.

Metropolitan Melbourne saw its auction numbers improve 14 per cent from the same time a year earlier, with a total of 13,750 properties going under the hammer. Back in 2014, this figure stood at just over 12,000.

Auctions have undoubtedly seen a popularity surge, and there are high hopes in the market that this will continue into the new year.

How much stock is there?

This recent rise in the number of properties going to auction may indicate there are more homes available for sale. This was confirmed through November data from SQM Research, which showed a 2.7 per cent increase in available properties.

Over the same period, there was a 0.3 per cent fall in homes for sale on a national basis. If you’ve got your eyes on real estate in Carnegie, then now could be the right time to make your selection.

The next step to realising your property ownership ambitions in 2016 should be to speak to Matt Hurlston at Ray White Carnegie. With years of experience in the local market, he’s perfectly placed to find a home that suits your needs.

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