Melbourne Real Estate Market Update
Melbourne
property market is buzzing, showing strength in all indicators, from open home
attendance to auction clearance rates.
Agents
report that prices are rising strongly and the market is in favour of sellers
in most regions.
A net 76% of agents said they were seeing more people through
the doors of their open homes, and a net 43% report sales going unconditional,
up from 5% in December.
Surveys shows that auction clearance rates are up in 2016 but
the rising number of agents reporting more potential vendors inquiring about
appraisals is not expected to generate any increase in supply of homes for
sale.
Agents said more investors were looking to purchase but there
had been a slight easing in the number of first-home buyers, although it is
still at near-record numbers. A net 56% of agents said they thought prices were
rising, the second-highest result on record. Buyers were seen as more motivated
than sellers.
We welcome your questions and feedback. If you would like to ask a
question or leave a comment, please email info@wiserealestateadvice.com.au
