Although at Clark Real Estate, we don’t believe auctions will get you the best price for your home, we do realise it is important to watch the auction rates as they can be an indicator in how the general property market is behaving. And interesting article from News.com.au this week definitely was worth reading.
According to the article, revised figures from the REIV (Real Estate Institute of Victoria) showes that auction clearance rates last weekend was only 59%. This figure is interesting because it’s the lowest teh clearing rates have been since 2008. And it was in that period that the market reversed and $67,000 was lost from the median house prices in Melbourne.
It’s important with the holiday period getting closer to think about how, when, and if you need to sell. The market is definitely changing at the moment and it’s important you consult with professionals when considering what to do with your investment.
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