Tim Heavyside

More than 711 homes were up for auction on Saturday, making it one of the biggest auction weekends in Victoria so far this year. With several reports of larger auction crowds across Melbourne, Domain Economist, Trent Wiltshire believes buyers are starting to feeling more confident. ‘The Reserve Bank’s hints of interest rate cuts and the loosening of lending criteria – which will enable people to borrow more,’ further contribute to this sentiment.

Similarly, the REA Group predicts the recovery of Melbourne’s property market is soon to be fast-tracked, with first-home buyers set to seize the opportunity to enter the market as a result of the Federal government’s pledge to assist with deposits. REIV president, Robyn Waters, agrees. ‘I can’t recall a better time to be a first-home buyer in Victoria and I’ve been in the business a long time’.