Home > Auction Wrap > Auction Snapshot | 7-8 December 2019

Auction Snapshot | 7-8 December 2019

With a staggering 1023 auctions reported across the state, Melbourne’s auction market continues to draw results similar to the ‘boom-time levels’ of 2013 and 2017, according to AMP Capital Chief Economist, Shane Oliver.

The first auction weekend for December saw a solid auction clearance rate of 78% in Victoria, indicating a remarkable improvement from this time last year, when clearance rates were recorded at 47%.

As the housing market continues to make strides on its way to recovery, Domain has reported a surge in home buyers rushing to renovate their homes in time for Christmas.

‘Almost two-thirds of home owners are making some type of improvements to their homes ahead of the holidays, with budgets ranging from $200 to $7000. More than 60 per cent of home owners said improvements at this time of year added financial pressure to the holiday period,’ said Tawar Razaghi from Domain.

Over the weekend, Fletchers recorded a clearance rate of 80% across the group, with 4 Tanami Court in Bulleen securing an astounding 8 bidders on the day. Making a bold statement of luxury and prestige, the 4 bedroom property, titled, ‘The Grange’, raised the benchmark for executive family entertaining, featuring an intuitive design with solar heated pool and spa, wood-fired pizza oven and palatial master bedroom.

Results. It’s a Fletchers thing.

 

Categories: Auction Wrap
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