Property markets are booming ahead of the spring selling season, however analysts warn that the selling blitz may be a sign that vendors are making a move ahead of an expected hard selling season ahead.
Saturday, 28th August saw agents in Melbourne sell a massive $341.9 million worth of property, which cleared 70% of the 658 properties up for auction, according to the Real Estate Institute of Victoria. Melbourne’s most expensive property sold was a four-bedroom, family property at Ivanhoe that went for $4.3 million. The cheapest was a three-bedroom house at Rockbank that went for $237,000.
Sydney auctioneers cleared 73% of their 316 listed properties, with the most expensive being a six-bedroom federation-style home in Burwood – selling for just under $4.2 million.
In Brisbane, a less conventional market, 49% of the 58 properties for auction were cleared, which was up from 12% of 50 properties this time last year.
