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Wakelin Videos

Melbourne auction weekend preview 29 March 2019

Jarrod McCabe, director:

"So last weekend we had a clearance rate of around the low 50s in the Melbourne property market which is certainly an improvement on the back end of 2018 when the clearance rate was consistently performing around the mid 40 percent mark.

"We are still noticing though that quality real estate agents are able to achieve strong results, or good quality results for their vendors. They're obviously having to work a lot harder, and certainly leading up to auction day, that's definitely the focus, but they're also aware that it could very well become a two stage process and need to negotiate fairly hard with prospective buyers post auction.

"And sometimes that'll take more than a couple of days, it might take a week or two to find perhaps the right buyer or to get them to the level that is expected from a vendor's perspective.

"This coming weekend we're expecting auctions according to the REIV in the vicinity of 990 across Victoria, and at Wakelin we'll be keeping an eye around two dozen properties in the inner-eastern, south-eastern in the bay-side areas.

"Predominantly being two thirds of those in the single fronted cottage terrace house type market, or otherwise in the older style apartment market varying from the 1930s through to about the 1970s in those boutique blocks that we love, thank you."