Auction Snapshot | 22 & 23 February
Larger volumes of properties going under the hammer over the weekend has put rising buyer confidence to the test, with auction clearance rates in Melbourne remaining exceptionally strong on Saturday.
Domain Senior Research Analyst, Nicola Powell, believes the upward trend will continue throughout March. ‘I think [Saturday’s] result really was a real test of 2020 for the auction market because what we saw was a much larger number of homes going under the hammer. It really shows the confidence and buyer demand.’
As a result, Domain reported that home buyers across Melbourne are ‘fending off stiff competition and stretching past their budgets’ in order to secure a home, which has been the catalyst for continued house price growth in the auction market so far this year.
Results. It’s a Fletchers thing.
Tim Heavyside 