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Melbourne Property Market outlook over the weekend

What a difference a week can make!  Last weekend basked in brilliant sunshine while the weekend before the skies opened with drenching rain.

Still clearances were exactly the same at 68%, such is the resilience of Melbourne buyers! Though it is important to note the clearance rate was 11% lower than the same time last year when the market was very much a sellers market, today we have a much more balanced market which presented better buying opportunities for investors.

Last weekend was yet another Super Saturday with 1366 auctions in Melbourne, with 776 selling and 434 being passed in, 207 of those on a vendor bid. In addition to the auctions, there were also 373 private sales.

December could see Melbourne have a new record for auctions, with around 4,300 homes expected to go under the hammer this month. The record currently sits at 3,877 in December 2016 as the big rush to secure homes before Christmas was a huge incentive.

We can expect more Super Saturday weekends in December with auctions scheduled right up until Christmas, so if you haven't got your pre-approval in place, give us a call very quickly.