When the property market in Melbourne peaked for the seventh consecutive week between April and May 2023, the preliminary clearance rate reached above 70%, being the busiest week since Easter 2022.

The market has come on strong, with homebuyers out in droves, increased attendance at auctions and competitive bidding. This instils more confidence into those looking to list properties as they feel the energy shift and favourable clearance rates at auction. 

‍CoreLogic’s most recent Housing Chart Pack shows that the combined value of residential real estate in Australia was $10.1 trillion at the end of September 2023, up from $10 trillion in the previous month.

National home values also rose 2.2% in the three months to September, down a touch from the 2.4% growth over the three months to August. With some 39,216 sales in September nationally, slightly lower than the five-year average of 40,607 per month, the property market pulse remains strong. 

At the median level, CoreLogic also reports that vendors now offer less discount on their property. The median vendor discount nationally was -3.8% in the three months to September, up from a recent low of -4.3% at the end of 2022.

Looking to list your property? Now’s the time. Backed by six continuous decades of experience in the real estate market, Thrive offers a boutique, personalised service – 100% focused on YOU and your goals. NOTE: there is no extra cost beyond the appointed agent's commission!

Our thorough market analysis, shortlisting of real estate agents, presentation/styling suggestions, strategic plans, and comprehensive marketing campaign is second to none. 

This is even before we commence truly advocating for you. Our strike rate is enviable. 

Allow us to get your property on the market and sold to add to the solid clearance rate data Melbourne is currently showcasing!

For more real estate news, visit www.thrivepropertyadvocates.com.au and our Facebook and Instagram pages.

‍The views and opinions expressed are those of the authors. Ensure you consult your accountant or financial adviser regarding the specifics of your situation, as this is general advice only and is not to be relied upon.

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