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Auctions in Melbourne: The year in review

By Jamil Allouche

Anyone looking to sell their property in Brunswick is doing so in a market that has performed tremendously over the last year. Headlines reveal that Melbourne housing has been one of the country's top growers, trailing behind only Sydney. Let's take a look at a few notable highlights.

A December 7 release by the Real Estate Institute of Victoria breaks down the accelerated growth in the property market over the last year. Numbers show that the sheer volume of transactions in Victoria has been at its highest point in the last half a decade. In the 12 months to November 30, there were 116,000 real estate sales. This is a five per cent jump up over the previous year.

Melbourne, the auction capital of Australia, reaffirms why it bears the title, holding 37,000 of Victoria's 40,000 auctions in the year to November. Furthermore, new records were set all across the board. In a single day, 1,648 homes went under the hammer across Melbourne. Meanwhile, the entire month of November has proven to be a stunner, boasting an immense volume of 5,669 homes that went to Auction. This was 259 more than the last record month, which was in November last year.

The report also predicts that the market should remain steady in 2016. Accommodative interest rates combined with healthy growth occurring in inner- and middle-city suburbs like Brunswick could continue to push buyer demand onward.

Selling in Brunswick

Findings show that the city's property market could soon be hitting its peak. If you want to take advantage of the striding momentum that has pushed real estate values up, get in touch with Ray White Brunswick. Whether it's through private treaty or under the hammer, we'll help ensure your home gets plenty of attention and a great sale.

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