PROPERTY PULSE BILLY DOUNIS 16FEB2014

Full steam ahead

A recent article from RP Data, Australia’s largest property data database, suggests that national listing numbers across Australia are at record levels after the seasonal slump. Its common practice that the market come to a near standstill throughout the last week in December and continuing in January. See below graph:

National-580x154

After another strong week of auction activity across Sydney and Melbourne although slightly down from last week, APM reports clearance rates of 81% and 74% respectively with a combined total sales value of $442,933,700.

Although the market is hot and appears to be moving in an upward direction in terms of property values it pays to do your research because there are still bargains out there to found.

Melbourne’s Top 5 Bargain house Sales of the week:

1.  41 Bridgeford Crescent, Melton South  $175,000
2. 18 Pyalong Crescent, Dallas  $285,500
3. 3 Melville Road, Craigieburn $302,000
4. 25 Lynne Street, Lalor  $320,000
5. 17 Ivanhoe Avenue, St Albans $327,500

(*Source REIV)

Auction Clarence Rates:

Sydney: 81%
Melbourne: 74%
Brisbane: 50%
Adelaide: 63%
(*Source APM)

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