Insights

Hodges Director Julian Augustini was featured in an article in the Australian Financial Review.

The article wrote on the high number of auctions being held this spring, which in effect is ramping up the Melbourne’s property market.

“Auction listings have spiked by about 20 per cent this year on 2014 listings, reflecting the confidence vendors have in local market conditions,” the article writes. The increase in stock has certainly fed into the confidence of buyers.

The article quotes Julian, who told them the homes he auctioned in Melbourne’s south on Saturday attracted two to four buyers each. “These bidders appeared to be unaffected by the tighter lending rules being introduced by major banks,” he said.

“First-home buyers are probably more cautious than the upgraders who have some decent equity and are looking for better accommodation for their families,” Julian Augustini said.

“If you have a job and you’ve got some confidence, it’s not a bad time to whack a few hundred grand more on the mortgage.”

To read the full article, click here.