Melbourne’s property market has seen improvement, as the auction clearance rate came in at around average over the weekend.
More homes were listed for auction – 426 compared to 360 a week earlier – but potential buyers were also keen to make purchases, according to Australian Property Monitors (APM).
The city's inner suburbs and outer east emerged as the best performing areas, boasting clearance rates of 87.5% and 75% respectively.
Each of these figures is significantly higher than the 69% average seen over the past few months, suggesting that the Melbourne market could be emerging from the slump it has been in over the last two years.
Andrew Wilson, senior economist at APM, said clearance rates are around the highest level recorded for more than three years, with the outer eastern suburbs proving to be ‘consistently solid performers’.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out