The Melbourne property market has had a few interruptions this month with School holidays and both Easter and ANZAC long weekends. We saw a higher volume of auctions conducted in the first weekend of the month and a relatively conservative number the rest of the month but the clearance rate remained consistent.
We are still seeing stand out results for good quality homes. Over the weekend we purchased a house in Rangeview Cres, Bulleen for a client which we purchased for $1,519,000 for a very happy client. We also missed out on a property in Anglesea which sold for $700,000 over reserve.
Overall though we have seen the heat come off the market with the upcoming election giving many buyers a ‘wait and see’ approach. Labor announced there new housing affordability scheme which would see the govt contribute 30 – 40% of the purchase price and they would retain that stake until the property is sold.
