Based on Reported Auction Results*

Low Winter Volume Helps Keep Market Buoyant

Auction success rates for the review period continue to be solid reflecting ongoing broad market strength. Figures that are continuously in excess of 70% each week are a strong sign that most areas across Melbourne have good buyer demand.

In keeping with the normal trend for winter sales, June and July volume levels were low compared to other months of the year, but no more so than in other years. August is likely to be the last of the low volume months before numbers of offerings spring back to life in September, like a good garden bloom! The end of the first month of spring sees a usual bottle-neck of auctions as the Grand Final weekend is almost entirely boycotted. A busy September means that these properties are listed and begin their marketing campaigns in August…. Good news for winter buyers feeling their cupboards have been bear of juicy offerings during the colder months.

Interestingly, although the number of properties for sale in winter is usually lower than other times of the year, the success rate does not necessarily spike at this time as might be expected. It appears an annual event, that buyers hibernate just like sellers, preferring the warmth of spring for their real estate pursuits. Being creatures of habit, expect good volumes this spring with more buyers out scouting, enlivened by extra doses of vitamin D!

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