Weekly Market Update 5th April 2016
By | 5th Apr 16

The clearance rate remained consistent at 73% over the weekend with around 405 auctions being held. Some great results were achieved including 68 Riversdale Road, Hawthorn which was a block of four Art Deco apartments on 858sqm which sold to a developer for $4,170,000. The individual apartment owners wisely decided to sell as a collective maximising their return.

Around 30% of Melbourne sales are achieved through auction, but not all properties are destined for auction success.  We were recently asked to provide comments for an article published by realestate.com that examined what makes your property suitable to be sold through an auction campaign. One of the biggest contributing factors was location with some suburbs predominantly being auction and if you choose to sell through private sale it leaves some buyers asking what’s wrong with your property? Another big factor is the price point of the property with certain demographics of buyers being deterred by auction campaigns. To read the full article, please CLICK HERE.

When I started my career in Real Estate over 15 years ago Buyers Advocates were not common place but, we are seeing a shift in the market place that more and more buyers are choosing to engage an advocate. There is a long list of the benefits of engaging a professional to act on your behalf but one of the greatest issues that this article outlines is that most buyers are out of their depth when it comes to negotiating with professional Real Estate Agents and often receive little to no evidence to substantiate if a property is a wise investment. To read the full article, please CLICK HERE.