The spring property market continues to deliver strong results, with a clearance rate of 76% and $500 million worth of property sold on the weekend. It was great to see Simon Gowling and Warwick Gardiner from our Albert Park office achieve the highest reported result – $6.37 million for a 4 bedroom Middle Park home overlooking the bay.
Melbourne’s average spring auction clearance rate is 75.6% – the highest of any capital city and well ahead of the Sydney market which has averaged 68.8% during this period.
Across our network, we’re certainly seeing increasing activity from first home buyers looking to take advantage of stamp duty concessions. As I’ve mentioned previously, solid competition for homes across our beautiful city is driving a marked shift in the way homes are sold – with areas where private sale was once the norm really starting to embrace auction as an attractive method of sale.
Of course, fantastic weather never hurts when it comes to selling property. Warm sunny days and the start of daylight savings means the fun and energy of the Spring Racing Carnival are just around the corner.
If you’re considering selling before end of year, now’s the time to speak with your local Greg Hocking office. We’d love to work with you to maximise your home’s appeal and deliver an outstanding result.