Property Market Resurgence
Melbourne’s real estate market is now showing consistent signs of recovery on a weekly basis as auction clearance sat around 70% again across the board and our own results breached the 80% barrier for the first time in maybe 18 months. These results are, admittedly, on lower volume than traditional for the time of year but we are beginning to sense a genuine interest from potential vendors, so many of whom have been anxiously monitoring the resurgent conditions ahead of their decision to see this Spring. Those who have already decided to lock in their timing are already finding that early offers are more than tempting with our offices selling this week a number of properties slated for August and September campaigns.
To suggest the horse has bolted for those hoping to buy at the bottom might be premature but perhaps we will look back at the end of 2019 and view June as the time the momentum turned and the “good buying” opportunities started to dry up. Time as always will be the judge, but based on the increased number of buyer enquiries we are taking every week perhaps the time for good buying really is now or never.