Welcome to the latest news from the Property Mavens team. This weekend more than 1750 auctions are scheduled in Melbourne following on from five weekends where clearance rates have been below the 70% mark. This reduction in clearance rates is fairly normal at the end of the spring selling season; however it comes at a time when Melbourne is seeing a historically high number of properties on the market. That is resulting in a rise of unsold property on the market - an unprecedented window of opportunity for buyers.
Welcome to Inner Circle - your inside look at the Victorian property market. To date, 2015 has proven a standout year for investors and homeowners alike with the Melbourne market recording gains of around 11% for houses and about half that for apartments. But a closer look reveals that all properties are not equal with some breakaway performances by specific property types in certain locations.