The auction market in Melbourne delivered success for sellers during April.
The auctions within Melbourne in April went well in budget-friendly locations, as well as in wealthier areas. Maximum clearance rates were recorded in a variety of suburbs, including Caulfield and Elsternwick. If the trend continues, this could lead to increased demand for business Forms from Moorabbin.
Dr. Andrew Wilson, the chief economist for Domain, told Domain News:
“We can see a remarkably even spread in the Melbourne auction market right now. Even though Melbourne is much flatter than it was this time last year, it is clearly still a seller’s market and clearly the best auction market in the country.”
The economist explained that the performance of the lower priced suburbs of Melbourne had been affected by two major factors – that interest rates are low and that the economy is on the up. This attractive combination has meant that people with the desire to buy property have been tempted to participate in the auctions.
One suburb where there has been a lot of activity is Dingley Village, situated to the southeast of the city. The shopping centre has reportedly been revitalised, while commuting to the middle of Melbourne from the suburb has been made easier by a bypass. The director of Buxton, Jason Garlick, has mentioned that there are good schools within the area as well.
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