Melbourne Market Update from Andy Reid

Although the clearance rates were hanging on to a level of respectability for dear life, the truth at the coalface was quite straightforward – if you priced property reasonably, you would end up cashing in quite nicely.

The two pauses in interest rates across August and September have most certainly seen first home buyers breathe a sigh of relief and, as a result, the “entry level” stock priced between $600,000 and $850,000 has finally started to regain some momentum.

Stock levels have naturally risen, so there aren’t as many buyers per property, however the ones that remain have a good degree of vigour to crack on with their lives.
So, as long as buyers are given their due courtesy, their willingness to bid is ever apparent!

Want to read about our featured auction of the quarer? Download our Auction Report. Watch the latest overview from Auctioneer Andy Reid: