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We are fast approaching the end of the first quarter of 2019!  

By Jodie Wilson

The start of the year has seen a lower supply of property in the market place in comparison to late last year which has seen a slight increase in auction clearance rates across the state whereas our office in particular has been clearing our clients auctions at an average of 83%.

Yes, the market has experienced a correction over the past twelve months after what has truly been the fastest growing market Melbourne has seen in recent years of house prices. The correction can be explained in part due to a credit squeeze as a result of banks becoming more conservative in lending as a result of the recent Royal Commission. At the end of the day there will always be buyers looking to buy and owners looking to sell. The upcoming election this year may bring some uncertainty to those looking for more tax breaks through negative gearing however we will not know for sure until later in the year.

What advice we as real estate agents wish to pass on is that it is important for buyers and sellers alike to do their research and understand what is happening in their own back yards as we know that prices will vary from suburb to suburb. A key question I would ask is around what you’re trying to achieve by selling or buying that next property, will a sale or purchase get you closer to the lifestyle or financial position you are hoping for and is it a short term or long term vision as this may alter the answer.

If you have plans of buying, selling or leasing you are always welcome to send me an email for some free advice of what I am seeing in the market in regards to your target property.

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