Shopping Basket
Your Basket is Empty
Quantity:
Subtotal
Taxes
Delivery
Total
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should receive an order confirmation from Paypal shortly.Exit Shopping Basket

News

News

Melbourne market breaks another year-high auction result

Posted on 25 May, 2015 at 0:30

Melbourne's hot weekend home auction market reported another year-high result on Saturday, and now it's no longer just the eastern suburbs feeling the heat.

 

The 83.3 per cent clearance rate eclipsed the previous non-holiday peak of 82.1 per cent, recorded just three weekends ago. Clearance rates of more than 80 per cent on have been recorded on five of the last six weekends, and only just failed to reach that benchmark on May 9, when a rate of 79.7 per cent was recorded. This weekend's result was well ahead of the 74.3 per cent recorded over the same weekend last year, reflecting the rise of the market over the past year.

 

Healthy late-autumn auction numbers were recorded on Saturday, when 995 homes were listed to go under the hammer - well ahead of last weekend's 837. Auction numbers are expected to rise sharply next weekend as sellers avoid the Queen's Birthday holiday weekend in a fortnight.


Melbourne's eastern suburbs are still market leaders, but the gap is closing in a rising market. Photo: Supplied

The strengthening housing market has been largely concentrated in the eastern suburbs this year, with the outer-east region typically performing well compared to other areas. Last Saturday was no exception, but other regional results were much closer to the leader, suggesting that strong market activity is now spreading throughout the Melbourne market.

 

Although the outer east recorded a strong 89.4 per cent result, it was down on recent performances. The next highest rate was the inner south with 88.1 per cent, followed by the inner east 86.6 per cent, the north east 84.3 per cent, the west 84.2 per cent, the south east 80.8 per cent, the inner city 80.2 per cent and the north with 67.3 per cent (the only region that failed to record a clearance rate above 80 per cent at the weekend).

 

Home buyer confidence and enthusiasm are clearly on the rise throughout the suburbs. The lowest mortgage rates since the mid 1960s have been a key catalyst for rising housing market activity this year, with the full impact of this month's cut yet to take effect.


The weekend's auction clearance rates substantially outpaced the same weekend last year. Photo: Supplied

Notable sales reported at the weekend included a four-bedroom home at 1 Russell Street, Toorak, sold for $3.96 million by Abercromby's Real Estate, a six-bedroom home at 27 Donna Buang Street, Camberwell, sold by Jellis Craig for $3.37 million, a three-bedroom home at 82 Maud Street, Balwyn North, sold for $3,083,000 by Hocking Stuart, another three-bedroom home at 1 Grieve Street, Balwyn North, sold for $2,805,000 also by Hocking Stuart and a three-bedroom home at 1 Chesterville Road, Glen Waverley, sold by Woodards Mount Waverley for $2.72 million.

 

The most expensive property reported sold at auction at the weekend was a four-bedroom home at 46 Canberra Grove, Brighton East, sold for $4,010,000 by Hocking Stuart. The most affordable property reported sold at the weekend was a one-bedroom unit at 3/117 Anderson Road, Albion, sold for $146,500 by Douglas Kay Sunshine.

Latest ABS home loan data shows the number of first home buyers to gain approvals increased by 10.9 per cent in March, to 2369. First home buyer numbers have increased by a healthy 16.7 per cent over the first three months of this year compared to the same period last year. The average loan for a Victorian first home buyer approved in March was $319,100, 4.3 per cent higher than March last year.

 

The Reserve Bank is due to meet next week to decide on official interest rate settings for June. Following this month's surprising cut in rates, the Bank has indicated it may continue to trim rates to revive an underperforming economy.

 

Low and falling interest rates will certainly bolster the rising Melbourne housing market, which is set for one of its strongest Mays on record.


Categories: None

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

973 Comments

Reply Kelwasp
8:44 on 26 October, 2019 
Achat Viagra Express Cialis 5 Prezzo 24th Pharmacy Ltd tadalafil and dapoxetine Dostinex Direct Generic Hydrochlorothiazide Medicine Cash Delivery Price
Reply Kelwasp
13:10 on 4 November, 2019 
Buy Amoxicillin Capsules In Uk cialis overnight shipping from usa Discount Where To Buy Secure Ordering Hydrochlorothiazide Internet Medication Swansea
Reply Brantvab
16:41 on 5 March, 2020 
Hello! I like your locale and useful communication. Thank. I intention be stupefying my thoughts here.

www.3ec0f4c78de5021b18.com
Reply Jemnils
19:35 on 10 December, 2020 
Levitra Prix Au Maroc Sheriewite buying cialis generic Assohiscorry Vente Viagra 100mg
Reply Jemnils
23:14 on 10 December, 2020 
Predisone Quick Delivery Sheriewite cialis without a doctor's prescription Assohiscorry Kamagras En Ligne
Reply Jemnils
6:40 on 12 December, 2020 
Canedian Pharmacy Sheriewite buy cialis pills Assohiscorry Prozac Without Script
Reply Jemnils
7:07 on 12 December, 2020 
Over The Counter Amoxicillin Sheriewite buying cialis online safe Assohiscorry Buy Generic Effexor Xr
Reply Jemnils
18:07 on 13 December, 2020 
Keflex Liquid Concentration Sheriewite best generic cialis Assohiscorry Is Amoxicillin The Same As Penicilin
Reply Jemnils
20:46 on 13 December, 2020 
costo de cialis Sheriewite cheapest cialis Assohiscorry Acheter Cialis Sur Internet
Reply Jemnils
15:55 on 14 December, 2020 
Kamagra 100mg Dosage Sheriewite cialis online purchase Assohiscorry Achat Rapide Kamagra
Reply IssacUnite
16:01 on 27 February, 2021 
Both stock and theoretical discussions of pornography bear explored the dispute of sexually unconditional texts as pedagogy. While many commentators and scholars take acknowledged the informative qualities of obscenity, there is no unlimited consensus as to what porn teaches its consumers and how it works as an educator. Dirt is increasingly itself the disposed to of edifying texts, with ‘porn literacy’ being debated as a implied additionally to the auxiliary governmental day-school curriculum in the United Kingdom and Australia. This article presents an overview of the clearing of ‘porn as pedagogy’ and pedagogy there porn. It is ordinary in breadth, relying primarily on up to date probing and media reportage from Australasia, North America and the Unanimous Kingdom. These Anglophone countries clothed outstanding similarities in respect to the ways smut is framed as a belief and/or partisan issue within community debate (although there are also outstanding differences). For this why and wherefore, the overview that follows does not seek to be globally elected, but represents a prodromic foray into a complex and diverse field.
more - thetranny
Reply Gypekesse
10:51 on 12 April, 2021 
https://hcialischeapc.com/ - cialis buy online
Reply Gypekesse
7:16 on 14 April, 2021 
http://fcialisj.com/ - buy cialis online united states
Reply Gypekesse
4:41 on 15 April, 2021 
https://ponlinecialisk.com/ - generic cialis
Reply Jemnils
18:36 on 30 April, 2021 
cialis online ordering
Reply Jemnils
19:29 on 2 May, 2021 
kamagra uk next day delivery paypal 306
Reply Jemnils
11:28 on 3 May, 2021 
come aquistare kamagra post.pay
Reply SYyzUMkbs
15:52 on 5 May, 2021 
SsFIhJwcBW
Reply ErichneokY
22:14 on 7 May, 2021 
cialis or viagra porn stepmom gave me viagra as a joke viagra pill
100 mg viagra lowest price what helps viagra work better cheapest viagra
Reply Gypekesse
18:39 on 12 May, 2021 
buy cialis online india