There were 699 auctions held in Melbourne last weekend ending 31st March 2019 showing a clearance rate of only 58% according to the www.realestate.com.au. 

Seems that the auction clearance rate is now starting to stabilise, however, given the low- number of scheduled auctions it’s still very difficult to predict with absolute certainty where the Melbourne property market is headed…

And, the Federal Government will be calling the election any day now which also throws another potential spanner in the works, in terms of the effect of Labour’s proposed capital gains and negative gearing tax changes will have on the property market as well as the effect on the Australian economy…

My take on everything so far, is that today is still very much a buyer’s market which means today is a fantastic time to be buying a property in the property cycle.   Melbourne is still Australia’s fastest population growth city by a long-shot!  So, don’t be a sheep and merely follow everyone else’s inaction, as that’s a recipe of never making any money whatsoever!  But, be bold and be property confident and always think long-term if you want to get ahead of the pack!  Happy and smart buying!

 

For a confidential discussion of where to buy in Melbourne, contact Zac Newbold directly on +61 (0) 418 144 644 or via his website by clicking on this link.

TIPS #

7 Buying Mistakes You Must Avoid To Become Successful!

Mistake #1 Overconfidence

Mistake #2 Buying before auction

Mistake #3 Missed real estate buying opportunities

Mistake #4 Fear of missing out from frustration

Mistake #5 Confused by market inconsistencies

Mistake #6 Low real estate stock can distort the market and cause confusion

Mistake #7 Not prepared to listen or accept professional advice

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