Weekly Auction & Sales Results, Market Overview

For eight consecutive weekends, the clearance rate for residential auctions in Melbourne has exceeded 80 per cent, highlighting a healthy and consistent level of demand and confidence amongst buyers.

The clearance rate reached 82 per cent from the 292 auctions reported today. There were 240 homes sold and 52 passed in, 26 of those passed in on a vendor bid.

Comparing June property market performance

Consistently strong outcomes from residential property sales in June have demonstrated how strong demand and confidence are in the local property market at the moment.

The negotiation process for a private sale

If you are intending to make an offer there are a few things to keep in mind. For example, the seller does not have to accept your offer. He or she may want to wait to see what other offers are made, or may want different settlement terms.

Weekly Auction & Sales Results, Market Overview

The four weeks until today has seen a greater number of reported sales - auction and private sale - than the corresponding four weeks in 2007, a clear sign that the Melbourne residential property market is strong and buyers are confident.

What happens when a property is passed in at auction?

In recent weeks, auction clearance rates have been at levels not seen since the spring of 2007, so it is timely to offer some tips about the auction process.