A clearance rate of 81 per cent was recorded this week compared to 80 per cent last week and 73 per cent this week last year. There were 1099 auctions reported to the REIV, with 894 selling and 205 being passed in, 89 of those on a vendor bid. More than 8,500 homes have gone to auction this year with 80 per cent selling under the hammer. The city’s outer suburbs now account for 25 per cent of all metropolitan auctions.
Real estate cycles come and go, but one fact always remains true – there is no exact science to property investing. As much as we would like to believe we are able to control every part of the process, the reality is that investing in property is rarely a bump-free journey. However, you can minimise your risks, which includes having clear strategies to help you deal with unexpected situations and setbacks when they arise. The last place you want to end up is being forced to...
A clearance rate of 82 per cent was recorded this week compared to 80 per cent last week and 70 per cent this week last year. There were 864 auctions reported to the REIV, with 705 selling and 159 being passed in, 59 of those on a vendor bid. Melbourne’s outer west suburbs have experienced significant increases in auction activity, with Hoppers Crossing and Werribee doubling their sales figures when compared to the same period last year.