Like King Street on a Saturday night: Melbourne buyers in inspection frenzy

There are so many prospective buyers trying to get into Melbourne’s rapidly rising property market that real estate agents are becoming nightclub bouncers and turning people away at the door.

One buyers’ agent likened the experience at a recent Collingwood inspection to lining up to get into a club, with the crowd resembling a typical Saturday night on King Street.

House hunters have been out in force in January, with some agents seeing upwards of 80 buyers wanting to attend a property’s first open-home – when 30 groups once would have signified strong attendance.

“Like lining up to get insight a nightclub,” was how Jarrod McCabe, from Wakelin Property Advisory, described a recent open-home for a cottage in Collingwood.

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