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!
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
Your Australian Property Buyers Agents lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property Buyers Agents offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf.
Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property.