Melbourne Property News Monthly Wrap – September 2021

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September log jam busting to break

In September the Real Estate Institute of Victoria (REIV) recorded more than 967 auctions. 639 properties sold, 361 at auction, with 33 passed in. 278 properties were sold before auction & 0 properties were sold after auction. The clearance rate averaged 94.5%, just shy of August’s 95.5%.

Professional interior photography now permitted

Homes going to market are now allowed to have photographers in to shoot and stylists to prep them for sale as lockdown restrictions are reduced in baby steps. There is mounting pressure to permit agents to stay inside while inspections take place adding to sellers security and confidence when allowing potential buyers into their home. And if all attendees are doubled vaccinated and wearing masks, why not?

Home turnover highest in decades

New CoreLogic data shows home turnover in Melbourne has rocketed in the last 12 months despite the conditions. It’s up a huge 17.9% on the 10 year average. The love of home upgrading is driving this and low interest rates are helping it happen. One thing for sure is many more sellers are on the verge of listing but just waiting for the improved inspection conditions of a proper re-opening.

The government should be giving Melbourne homeowners more support for moving ahead with their lives, in every category from families outgrowing their living space, to downsizers to first home buyers.

Listings are about to surge

Spring warmth and blooming gardens show homes at their best and the opportunity now is to get a jump on the surge of listings we know is coming in a few weeks. Vendor Marketing’s market skills and knowhow will put you in the front line and in the box seat for your maximum sale result!

Craig Knudsen
Principal Advisor
Vendor Marketing

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