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Melbourne’s auction market remains strong achieving a clearance rate of 81 percent on Saturday. The total number of homes listed was still more than a thousand at 1,183 while the number of reported auctions was 952. A total of 772 properties were sold with total sales amounting to more than $620,649,000. Saturday’s median price recorded was $843,750.

The month of February was very positive for Melbourne as it recorded an overall monthly clearance rate of 78.5 percent considered the highest since 2001. Home sellers from Kensington, Albert Park, Avondale Heights and Ivanhoe benefited the most. As for units, Armadale, Balaclava, East Melbourne and Flemington recorded 100 percent clearance rates.

Domain Group chief economist Andrew Wilson said the demand for homes in Melbourne remains high. He said they are now experiencing the strongest early season market in the area.

For his part, Hocking Stuart Albert Park director David Wood said there’s a strong competition now between homebuyers, investors and self-managed superannuation-fund investors who are all searching for good and solid period homes with land.

On the regional level, Victoria also recorded a clearance rate of 81 percent with 1,063 auctions held. The clearance rate achieved was higher than that of the same period last year which was 73 percent. Of the total properties listed, 705 were sold at auction and 151 before auction. Of the 856 that were selling, 207 were passed in with 102 on a vendor bid.

The clearance rate for houses remains high at 84 percent while the rate for units/apartments was 73 percent. The total auction volume recorded was $877 million. As for private sales, Victoria recorded 335 with total sale volume of $205 million.

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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