Melbourne property heats up in Spring

Australia’s property market typically heats up quickly come Spring time, and Melbourne’s market is no exception.

This year we’re seeing promising activity in both clearance rates and the number of auctions across the city, a sign that now may be the best time to buy or sell real estate in Melbourne.

Let’s have a closer look at the goings on in the market, and decipher what it could mean for those looking to buy or sell real estate in Melbourne.

What do higher clearance rates and more auctions mean for buyers?

Your home is your castle, it should satisfy your needs and wants no matter what they are. For those with specific requirements in a home, spring is undoubtedly the best time to buy thanks to typically high clearance rates and a consistently large number of auctions.

More auctions and more sales, indicate that you will have more to choose from when buying a home in Melbourne. This means that you may be more likely to find the perfect property, particularly with the help of a real estate agent local to the area you’re buying in.

Melbourne’s property market is heating up, see our comprehensive Spring 2016 report to see how much your suburb has grown.

What do they mean for sellers?

CoreLogic RP Data lists that week’s rate as the second highest in the country, after Sydney. When selling, the mere arrival of spring may be enough to improve your chances of success. According to Real Estate Institute of Victoria data, the week ending September 18 was a successful one for Melbourne auctioneers and sellers, with a clearance rate of 81 per cent – seven per cent higher than the same time last year.

A higher success rate might mean your home is more likely to sell if your home goes to auction, making Spring the best time for ensuring your sale is successful.

Call upon the expert knowledge of Nelson Alexander’s team

Despite the immense promise shown by the current market, selling can still be a stressful experience thanks to the endless bureaucracy and all the logistical hoops you must jump through. Instead of doing it all yourself, let us use our experience to help make the entire process a stress-free breeze.

With the help of Nelson Alexander’s expert team you can have your property appraised, marketed and made ready for auction, so that you can take advantage of the many benefits of selling during this busy season.