24 April 2013

Clearance rates climbing Melbourne’s property market continues its upward trajectory with auction clearance rates now sitting comfortably at 70 per cent - 10 percentage points higher than this time last year. This result confirms a significant improvement in market conditions to those we’ve experienced in recent years. Interestingly, if we break the clearance rate down into specific markets and price brackets, an even more encouraging picture emerges with the clearance rate being much higher than the market average in many instances. For example, inner Bayside properties up to $2 million are experiencing very good results with the current clearance rate for this sub-section of the market being closer to 80 per cent. Here at Greg Hocking we’re pushing that clearance rate even higher. On April 13 we achieved a 100 per cent clearance rate for all seven of the properties under $2 million we took to auction that weekend. Regardless of broader market conditions, a good auction result requires a great sales campaign, smart marketing, a hard-working and experienced team. All seven of our offices across Melbourne have helped hundreds of sellers achieve outstanding sales results already this year. To hear how we can deliver a great result for your property, call us today.

Greg Hocking