Melbourne Property Market Update – November 2, 2013
By Peter Sarmas on 2 Nov 2013
No Comments yet, your thoughts are very welcome
In the lead up to next Tuesday’s Melbourne Cup, the property market has been flooded with new properties. Though the number of auctions expected this weekend is much lower due to the public holiday, REIV CEO Enzo Raimondo did not expect this to affect vendors’ chances of selling their homes.
• Last week marked the thirteenth week in a row that the clearance rate was above 70 per cent, making it clear the Melbourne market is now in a recovery phase.
• For those considering putting their property on the market, Cate Bakos discusses the benefits of accepting an offer before your home goes up for auction.
• If you’re a bit hesitant about entering the market at the moment, Peter Sarmas reflects on his experience with a family who missed out on their opportunity to buy a house.
• Are you planning a home renovation job this spring? Don’t forget to take into account these hidden costs.
• And Victorians, if you’re planning to dine out when you watch the Melbourne Cup next Tuesday, here is a list of recommended bars and eateries around the city.
