No Fooling Melbourne Property Buyers No Fooling Melbourne Property Buyers

No Fooling Melbourne Property Buyers

Did you fall for a practical joke on Saturday?

My personal favourites were Brownlow Medallist Dane Swan announcing he was returning to AFL (OK, too good to be true), and IKEA claiming its new airline “FLIKEA” was about to start flying from Australia to Sweden.

Hope you too enjoyed a few belly laughs on April 1; even “fake news” can raise a smile.

But not everything was a gag on April Fools’ Day 2017.

Hand on heart, another tranche of Melburnian property did sell under the hammer thanks to this market’s unsated demand.

In fact, 80.6% of the 1,007 reported auctions sold in the week ending April 2, according to national data collection company CoreLogic.

This compares favourably to the same weekend 12 months ago when 69.2% of only 584 properties sold.

The Real Estate Institute of Victoria told a similar statistical story; about 82% of 864 reported auctions came up trumps for vendors. That is a rise of about 2% in a week.

REIV president Joseph Walton says the outer west suburbs “experienced significant increases” in auction action on Saturday.

Here, at Greg Hocking, auctioneers saw vigorous bidding across inner west, south and east suburban listings.

Clearly, smart buyers know there is nothing foolish about buying in a growing city viewed as one of the most liveable in the world.

Call us today if you would like an obligation-free appraisal of your property.

Greg Hocking