Lockdown 5 doesn’t cramp the market
Over July’s first three weekends the Real Estate Industry of Victoria (REIV) recorded more than 2,471 auctions. 1,660 properties sold, 1,208 at auction, with 337 passed in. 449 properties were sold before auction & 3 properties sold after auction. The clearance rate averaged 83.5%, down on this time last month’s sky high 94.5%.
Here we Covid again
Although Melbourne’s back on the lockdown merry-go-round, auction clearance rates stayed high so far in July.
Median house value keeps climbing
The just published REIV June Quarterly Report shows the median house price in metropolitan Melbourne has climbed to $1.01M. CoreLogic estimates a 4.6% rise over the last quarter.
A great new aquisition by Buyer Marketing
1/19 South Avenue, Bentleigh is a fully renovated 3 bed, 2 bath, double garage, double front Victorian in a highly sought after tree lined location, close to East Brighton boundary, keenly negotiated and purchased by Buyer Marketing, prior to auction, for $1,125,000. The clients had only moved from Spain two years ago to Melbourne, and were extremely happy with our process and skills that got them into their great new home.
In metro Melbourne some stellar price rise suburbs right now are places that are playing catch up to their more expensive neighbours. Hawthorn East had a 42% quarterly value increase and is catching up with Hawthorn and Kooyong. Ringwood East had a 32% quarterly increase as it catches up with Ringwood North and Heathmont.
When buying a home you can’t play catch up. You must be up to speed and ahead of the game. Having Buyer Marketing on your side negotiating a purchase is more important than ever!
Principal Advisor &
Licensed Estate Agent
Enter your details below to download our Essential FREE Property Buyers Guide and learn our 4 steps to success!
1. Search – how to find the ideal property to match your needs
2. Evaluation – what you need to evaluate with your potential purchase
3. Acquisition – secure your property with minimum fuss and for the best price
4. Legal & financial requirements – how to ensure all is in order with the property and sale documentation
Buyer Marketing – Melbourne’s most experienced buyer advocates will not disclose any of your personal information.