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According to the Domain, Melbourne buyers are increasingly choosing detached and semi-detatched houses; with family-friendly homes currently experiencing the greatest price growth and most intense buyer competition. And this isn’t likely to change any time soon.

Hodges Director Michael Cooney said, “The quality family homes we had open today had 20 to 25 groups through each of them.”

“There is a real demand as people gear up for the spring market and change [their children’s] schools. They want their settlements coming in over Christmas and January, so now is when they hit the market.”

Buyers are motivated by low interest rates and perceived value opportunities.

The Domain Group reported a clearance rate of 76% from 493 auctions on Saturday.

Read the full article here.