Buyer’s Agent Weekly Property Update - 5th May 2016
By | 5th May 16

Melbourne recorded a consistent clearance rate of 75% over the weekend from around 1250 auctions. Many affordable family suburbs recorded 100% clearance rates during April. Homes within these suburbs had once rarely been sold by way of auction however the buyer demand has meant Auction is now the way to go for many of these suburbs. The suburbs which recorded 100% clearance rate for April included Dingley Village, Keilor Downs and Parkdale. To read the full article please, CLICK HERE.

We have continued to see the ripple effect continue outwards, with 12 of the top 20 growth suburbs being in the outer Melbourne suburbs such as Langwarrin, Doreen, Rowville and Keysborough. As the buyer demand increases for family homes in the middle ring suburbs, many are choosing to purchase in the more affordable outer suburbs where the medium house price is around $557,500 compared to the Melbourne median of $713,000.To read the full article, please CLICK HERE. Over the weekend we saw a strong sale in Altona Meadows with a simple 3 bedroom home selling $80,000 over reserve at 10 Point Cook Rd, Altona Meadows and we were one of five under bidders.

We secure many properties for our clients “off market”, giving our buyers an edge in negotiations without the looming fear of competition. My colleague Mario Borg recently published an interesting article which answers many questions surrounding purchasing properties “off market”. Many buyers ask why vendors would want to sell off market but for many owners they do not wish to endure a sale campaign, open their property weekly, or have their neighbours looking through their property. This puts you the buyer in a prime position to make a purchase without the high levels of competition from other buyers. Many buyers however struggle to find these properties and this is where engaging a Buyers Advocate can be of huge benefit. As they already have established relationships with Real Estate Agents, they are often hearing weekly of dozens of “off market” opportunities. To read the full article, CLICK HERE.

Thinking of buying? If you're about to start your property search, get in touch with us to see how we can help you!

Thinking of selling? We're booking in free appraisals this week. If you're looking to sell, get in contact to secure your appointment.