Melbourne Market Update from Andy Reid

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10 Nov, 2023

By Apollo Auctions

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!

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