Market Update 29th April 2021
By | 29th Apr 21

Melbourne’s property market continues it’s consistent run with a clearance rate of 80% from 704 auctions. There continues to be multiple bidding at most of the house auctions we are attending, with an average of 4 to 5 bidders and reserves being smashed by around $100,000 - $200,000. This usually equates to the properties selling at least $100,000 above the upper end of the quoted ranges. View Melbourne's auction results here.
 

Though it’s not all doom and gloom for buyers as our Buyers Advocates are still negotiating many deals and purchases for our clients using our 20 plus years of experience in Melbourne’s market. There are a number of strategies and tactics that are still enabling our clients to get into the market and try to reduce our competition.
 

Some of these strategies were highlighted in a recent article by Alanah Frost in The Herald Sun and on Realestate.com.au. These include making pre-auction offers and also buying off market properties which we do with 90% of our purchases. It was great to see our client Sarah Leslie and her family featured as we were able to purchase a property for her, without auction competition and emotion, well below their budget limit. Read the article here.