Strong Spring for auctions

SPRINGTIME can motivate a person to do a lot in life; the warmer weather after a long bleak winter can be powerful.

It’s a time where you get out and start enjoying life again, making the most of the increased daylight hours, finish those DIY renovations, become more social and exercise more.

Traditionally spring is also a time when the most houses are sold at auction. Victorians love getting out on a warm Saturday morning and competing against another bidder in a battle to buy their dream house.

The 2019 Spring auction period has been very strong with 11,034 homes having gone to Auction.

Buyers have been scrambling to purchase homes, weekly clearance rates have remained above 70 per cent throughout spring, whereas last year they would hover around 50 per cent.

Belmont has led the way across regional Victoria with 44 sales and a clearance rate of 72.7 per cent. Highton also performed well with 28 auctions and a clearance rate of 64.3 per cent.

With only one weekend left in spring, we are expecting another weekend of strong sales to finish of an incredibly prosperous season.

Following leaner times in recent years, there are currently a lot of happy faces in Victorian real estate.

With softer lending conditions and record low interest rates, a lot of people are eager to purchase a property.

If you are thinking about selling your house, now is the perfect time to do so.

As always, if a buyer or a seller is looking for objective information on the market or an agency – they should visit reiv.com.au.