We sold 5 out of our 6 auctions today, with successful results in prices ranging from the $300,000’s to the $800,000’s. Strong sales were achieved in a variety of suburbs including Ascot Vale, Essendon, Essendon West, Keilor Park and Niddrie. Of course, there were a number of offers made during the week on private sales properties as well, so it’s been a good week all round for the sellers.

With interest rates looking more likely to go down rather than up over the next 12 months or so, the only real issue that the property market faces is the problem of a shortage of supply of new listings coming onto the market at the moment.

Unfortunately, part of this problem lies with the buyers themselves, as many of today’s buyers will also be sellers. But only once they have been able to secure their next home. So it’s very much a case of “the chicken and the egg” in this situation.

However, there is no doubt that anyone considering selling in today’s market has every reason to expect plenty of buyer interest and a highly pleasing result.

Remember, if you would like some genuinely obligation-free advice on any property matter, we are always happy to provide it. Feel free to call us at any time.

Have a safe weekend.