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Busy August brings a jump in sales, as sellers & buyers gear up for Spring
Over August’s five weekends the Real Estate Institute of Victoria (REIV) recorded more than 3,323 auctions. 2,295 properties sold. 1,650 at auction, with 631 passed in. 638 properties were sold before auction & 7 properties were sold after auction. The clearance rate averaged 79.80%, up a touch on July’s 78.75%. 1,420 homes were sold privately.
August had more than a thousand auctions than July, as the lead up to Spring got buyers moving, all keen to find their next home in time to enjoy the summer break in their new digs.
Big Banks cut rates in August
In a move that will further encourage Spring selling & buying, some banks are getting in early and trimming their rates. Although the RBA hasn’t lowered its own cash rate, Westpac cut some packaged fixed rates on August 21, including lowering its 2-5 year terms to 5.89%, for people with at least a 30% deposit. On August 23, CBA cut both fixed and variable home loan rates. Some fixed loans were cut by up to 0.7 percentage points and some variable rates were dropped by up to 0.35 percentage points. These cuts apply to new customers.
New figures show how much Spring boosts home sales
Figures just released by market analysts CoreLogic quantifies how Spring brings fresh Melbourne listings and sales. Over the last decade sales increased by an average 10% in Spring. And there’s an average lift of 26.7% in fresh listings. So the sales ramp up dramatically, but with very competitive conditions. Having us on your side in this environment makes the difference as we pull out all stops for you, to make your sale a success and maximise your sale price!
Why Spring is so good for home prices
Now is the time interiors glow with brighter and warmer sunshine. Blooming gardens show properties off at their very best. All this brings huge appeal to your home and is a key factor in maximising a home sale price.
Vendor Marketing delivers higher prices too
Vendor Marketing guides you through all the preparation and makes sure your property is presented to its full potential when it goes to market. Our advice for preparation and presentation is just the start. Our experience and skills guide you through every step of the sale process, applying our proven strategies for the benefit of you, the seller. It gives you confidence and much less stress!
Craig Knudsen
Principal Advisor
Vendor Marketing
Brought to you by Vendor Marketing – Melbourne’s most qualified vendor advocates

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