The latest figures released from the Real Estate Institute of Australia (REIA) confirm what is happening in the Melbourne Real Estate market.  Sales continue to grow as a new confidence in real estate emergers with auction clearance rates in excess of 80% for the second weekend in a row.

 

This weekends auction results will be interesting due to the decrease of properties on offer next weekend due to the Queens Birthday long weekend.

Sales volumes increasing

The Real Estate Institute of Tasmania (REIT) reported that Tasmanian house
sales reached 982 for the month of April, the highest number of sales since
November 2007.

 

REIT President, Mr Peter Bushby said the increase in house sales across the
State was a positive response in tough economic times.

 

The Real Estate Institute of Western Australia (REIWA) has also reported that
the Perth property market staged a strong comeback in the March quarter.
REIWA data for the March 2009 quarter shows a similar pattern with sales
volumes returning to a 15 year average while Perth’s median house price has
jumped by $10,000 since December last year, lifting the current median price to
$430,000.

 

REIWA President, Mr Rob Druitt said the turnaround in house sales during the
quarter was astounding, with evidence suggesting that the number of sales for
the month of March were 85 per cent above December last year.
“While the Federal Government’s First Home Owner’s Grant Boost (FHOG Boost)
has been a major reason behind this renewed activity, there is also evidence that
trade-up buyers are returning to the market,” Mr Druitt said.