Melbourne housing market stays strong

May 31, 2017 by  

Statistics from recent auctions show the resilience of the Melbourne home market.

The number of houses being listed in the auctions has remained over 1,100, and the strength of the market this year is an improvement on the performance in 2016, with seller confidence high and auction numbers nearly matching the record figures of three years ago. Booklet printing in Epping may be used to showcase property in the suburbs of Melbourne.

The clearance rate at the auctions of Melbourne has been consistently high. In contrast with 2016, recent weeks have seen the clearance rate stay above the 78% level. Fresh financial regulation has not stifled the activity of investors in the local residential market. Neither restrictive lending nor increased interest rates have dampened the positive mood.

Different areas of Melbourne have been hosting diverse numbers of auctions. Epping has not been planning to hold as many auctions as Brighton. However, the intention was for Epping to put on at least one more auction than Pascoe Vale. As part of north Melbourne, Epping tends to be close to more auctions than parts of the southeast city.

Lending for residential investment has varied across Australia in recent years. Over the last 12 months, lending in Victoria has outstripped levels in New South Wales . In fact, at almost 30%, the increase in Victoria has nearly matched the performance of Tasmania.