Market Insights week ending 25th October 2020
Published on 26/10/2020
Melbourne’s property market achieved a clearance rate of 83% from an increased number of 290 auctions reported to the REIV. In addition to this there were 112 private sales. According to Eliza Owen, CoreLogic’s head of research Australia, since onsite private inspections resumed on 28th September there has been a large influx of listing volumes in Melbourne, increasing around 330% in the last four weeks ending 18 October, up to 6,974 from the 1,606 listed in September. I suspect, everything continuing on as planned we should see auction volumes continuing to increase until the end of the year.
Stay safe and stay well.
Melissa Opie
