Christmas arrives early for Vic property market
Date: 22 Dec 16
Multiple auction records have fallen this month with close to 4,000 homes going under the hammer – the biggest December in the state’s history.
The previous record for auction volumes in December was set last year, when 3,804 homes went to auction. The record for the highest number of auction sales in December – set in 2007 when 2,537 homes sold – has also been broken.
Capping off the month was a blockbuster final weekend – 17-18 December – when more than 1,200 homes in 367 suburbs went to auction, including 1,000 on the Saturday.
REIV CEO Geoff White said Melbourne’s property market is finishing the year on a high note.
“While the 2016 market has been solid throughout the year, it is showing real strength as the year draws to a close with increasing buyer and vendor confidence,” he said.
“Despite high auction numbers in December – with multiple super Saturday auction weekends – the clearance rate remains at an all-time high for this time of year.”
“Continuing high clearance rates has encouraged more vendors to sell their homes at auction, well after the traditional spring selling season.”
“Melbourne property buyers are currently spoiled for choice with auctions scheduled right up to Christmas eve.”