A BIG WEEK IN REAL ESTATE!

The REIV reported an auction clearance rate of 76%, the fourth week in a row above 70%!

By Peter Nicolls

16-07-2019

The REIV reported an auction clearance rate of 76%, the fourth week in a row above 70%.
There were three properties sold at auction that caught my attention.
The first was 19 Morgan Street, Carnegie - the home was marketed at $800 to $880,000 and sold for $1,105,000.
The second was at 12 Beltane Avenue, Brighton East - marketed at $1,200,000 to $1,300,000 and sold for $1,600,000.
The third was 14 Woodhouse Grove, Box Hill North - marketed at $880,000 to $968,000 and sold for $1,090,000.
A clear indication that the property market has turned the corner.
Our open for inspections on the weekend saw attendances increase significantly with more than 30 enquirers at a home at 24 Tolhurst Ave, Boronia for the week.
What this all means is that the big losers will definitely be the home buyers that continue to procrastinate.
Home buyers are desperately trying to buy property at the prices that were on offer a month ago but that ship has sailed.
Now that the shackles have been removed and housing affordability is the lowest it has been for many years it is obvious that there is a ripple effect that is building momentum in the property market.
Call me today for a no obligation chat on anything Real Estate.
Peter Nicolls, 0418 311 048