Melbourne home buyers and agents alike are gearing up for an epic auction weekend, with 1680+ auctions scheduled to take place this weekend across 349 suburbs. This is the largest weekend of auctions thus far in 2015, and while using previous years as an indicator can be precarious, if 2014 is a benchmark it is likely to be the annual peak.
It is standard procedure to see a dramatic increase in the number of properties go under the hammer at this time of year, as buyers wait out winter in the hopes of settling before the holiday period.
Buxton Agent, Stefan Whiting, states that “we have prepared for a frantic spring period- while this weekend is to be significant, the next few weeks are also extremely busy- due in part to having demand exceed supply regarding properties and auctioneers this weekend”.
According to the REIV, the busiest suburbs this weekend are located in Melbourne’s Southeast and Eastern suburbs.
REIV CEO, Enzo Raimondo, explains that the “Glen Waverley and Mt Waverley have seen strong auction results in the past two months – and the growth in auctions clearly reflects positive vendor sentiment in this middle eastern region” said Raimondo. “The big auction tally really is a positive sign – reflecting ongoing, strong confidence in the market, cementing Melbourne’s reputation as an auction capital,” he said.
Are you in the market or keen to attend an auction this weekend? Here’s a few we’d recommend looking at.
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