Home > Auction Wrap > Auction Snapshot | 8 & 9 February 2020

Auction Snapshot | 8 & 9 February 2020

Making a remarkable comeback from the 2017-19 downturn, Melbourne’s housing market has seen a 20 per cent increase in auction clearance rates from this time last year. With renewed buyer confidence already driving positive results in the market, industry experts are expecting a busy start to the year.
‘The market is kicking back into gear and we’ll begin to see lots of new listings come on between now and Easter. This weekend’s clearance rates really illustrate the confidence that has come back into the market,’ said Domain Senior Research Analyst, Nicola Powell.
With the Reserve Bank having announced its decision to keep interest rates on hold at 0.75 per cent, CoreLogic Head of Research, Tim Lawless, said ‘housing markets have well and truly responded’ to lower interest rates, ‘with national housing values rising 6.7 per cent since the first rate cut in June through to the end of January’.
Results. It’s a Fletchers thing.
Categories: Auction Wrap
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