With the conclusion of 2018 marked by a decline in Melbourne property prices, we saw the beginning of the auction season today kick off on a more positive note than how it finished the year.
Over the previous couple of weeks, we have also noticed attendances at open for inspections were higher than the December numbers. Bidding at sensibly priced properties today, was also consistent across all price ranges. Those who are in the market seem to be well adjusted to the more stringent lending criteria adopted by the banks and appeared to be well-prepared and ready to put their hands up and bid on this sunny Melbourne day.
Now that the Royal Commission is over and done with, interest rates are on hold again, (for the 30th consecutive time) and with people wanting to move forward, it all looks a bit brighter then it did at the end of 2018! Outstanding results for the day were: