Auction volumes held steady during the first week of spring as vendors bet on strong initial results to help bolster prices.
has kicked off slowly, with the number of homes going under the hammer static, leading some experts to predict the traditionally busy period for auctions could be pushed out to late spring and early summer.
Auctioneer Warwick Gardiner in Melbourne on Saturday. The preliminary clearance rate has been resilient even as buyers anticipate a flood of new stock later in spring.Emma Bloom, from buyers’ agency Morrell and Koren, said real estate agents were increasingly advising vendors to push out their auction dates to get “some examples of good numbers on the board and some traffic through” before selling their properties in the hope of achieving better results.
“There are hopes conditions will improve in late spring or early summer which will lead to that flooding, so October, November, but hope is not a good strategy. Vendors are not confident. Unless you have to sell, it’s quite a patchy market.“But it may end up being wrong advice for vendors because we don’t know if buyer appetite is going to be any better moving forward.”
The property at 88 Lewisham Road went to a young family, with RT Edgar’s Sarah Case brokering the sale.
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