Right now, auction clearance rates are sitting comfortably in the mid-70s to mid-80s. Buyer confidence is back. The only thing missing? Stock. We’re still seeing less than 1,000 auctions a week being conducted, which means competition is fierce.
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As we move into the spring property market, the big question on everyone’s mind is whether we’ll finally see listing levels improve.
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The Melbourne property market is starting to move and if you’re not already in, you could be about to miss your window.
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With Melbourne’s auction clearance rate climbing back into the mid-70% range and hitting as high as 89% in some reports there’s renewed optimism in the local property market. Traditionally, clearance rates in the 70s suggest a seller’s market, and with winter drawing to a close, this surge is prompting the question: Is Melbourne’s property market gearing up for a spring rebound?
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While locals hesitate, interstate investors are seizing prime Melbourne properties. Are Victorians missing out on the best value in their own backyard?
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