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Melbourne recorded an auction clearance rate of 78 percent on Saturday with more than a thousand listings compared to last weekend’s low number of auctions. The total number of scheduled auctions was 1,214 while the number of reported auctions was up to 971. A total of 775 properties were sold with total sales amounting to more than $613,240,000. The median price recorded was $850,000.

The northern and western suburbs recorded strong auction clearance rates, according to Domain Group chief economist Andrew Wilson. He noted, though, that buyers were being pushed farther out in search of affordable homes. Wilson added that the stamp duty exemption for first home buyers in Victoria effective July 1st would likely increase house prices.

In regional Victoria, the clearance rate recorded was 81 percent but with more than a thousand auctions held compared to last year’s 74 percent during the same weekend. Sold during auction were a total of 730 properties. Some 122 were sold before auction. Of the total auctions reported to the REIV, 852 were selling, 205 were passed in with 89 on a vendor bid.

The clearance rate for houses went down four points to 83 percent but the total auction volume recorded was up to $844 million. The clearance rate for units and apartments was 75 percent.

As for private sales, Victoria recorded 320 achieving a total sale volume of $219 million.

February 2017 was the strongest month on record with more homes going to auction and a record number of homes selling at auction than ever before.

Looking to buy in Melbourne and sick of missing out at auction? Thinking of selling and wanting trusted, impartial advice and hand holding to protect your interests throughout the entire selling process? Talk to us about how WE MAKE IT EASY to buy or sell your home.

Call us now on 03 8609 1234 for a confidential free consultation.

Amalain Melbourne property finders will help you buy your investment property

By Amalain Buyer & Vendor Advocates
Copyright 2017 | All Rights Reserved

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Amalain does all of the leg work on behalf of the buyer or seller. From sourcing, analysing, negotiating and bidding at auction for our buying clients, to choosing the most appropriate selling agent, negotiating a fair and reasonable selling commission as well as implementing the most cost effective marketing campaign for our selling clients, we offer trusted impartial advice to protect your interests throughout the entire buying or selling process. We charge a LOW FLAT FIXED FEE for our buyers. For our sellers, this service is provided FREE of charge. WE MAKE IT EASY to buy or sell your home. Call NOW for a confidential FREE CONSULTATION on 03 8609 1234 or visit www.amalain.com.au.

With a passion for financial empowerment through real estate and the leverage of passive income, Michelle started investing over 17 years ago, implementing diverse investment strategies to build her portfolio. Easily able to build rapport and empathise with others, she is a master negotiator who loves challenges and problem solving. Michelle’s tenacious nature and unwavering commitment to achieving the task at hand ensures that her clients always achieve the best possible outcome. Call NOW for a confidential FREE CONSULTATION on 03 8609 1234 or visit www.amalain.com.au.

Wendy is an avid real estate investor with nearly two decades of experience in buying and selling her own properties applying multiple investment strategies. Her expertise, knowledge and skill at negotiation dovetails perfectly with her passion as a buyer and vendor advocate. Her upfront, no nonsense approach ensures that her clients’ interests are always the priority when it comes to achieving success for her buyers and sellers. Call NOW for a confidential FREE CONSULTATION on 03 8609 1234 or visit www.amalain.com.au.

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