Melbourne market confident as clearance rate jumps
Alistair WalshAugust 4, 2013
It is becoming difficult to buy good property in Melbourne says WBP Property Group buyers agent, Greville Pabst.
He says the REIV’s reported weekend clearance rate of 75% in Melbourne shows Melbourne buyers are increasingly confident.
He predicts annual median price growth will reach 10% if clearance rates in Melbourne stay between 70% and 75% in Melbourne over spring.
The REIV’s reported clearance rate is up from 69% last weekend and 60% for the same weekend last year.
It was based on 479 auctions of which 361 sold and 118 passed in, 68 of those on a vendor bid.
Alistair Walsh
Deutsche Welle online reporter
