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Why Are Homeowners Choosing to Sell Now?

• Victoria’s property market continues to provide genuine opportunities for vendors who are ready to sell. While 𝗠𝗲𝗹𝗯𝗼𝘂𝗿𝗻𝗲 𝗵𝗼𝗺𝗲 𝗽𝗿𝗶𝗰𝗲𝘀 𝗱𝗲𝗰𝗹𝗶𝗻𝗲𝗱 𝗯𝘆 𝟬.𝟮% 𝗶𝗻 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮𝟬𝟮𝟲, the REIV recorded a 𝟳𝟭% 𝗮𝘂𝗰𝘁𝗶𝗼𝗻 𝗰𝗹𝗲𝗮𝗿𝗮𝗻𝗰𝗲 𝗿𝗮𝘁𝗲 for the week ending 6 September. This shows that 𝗯𝘂𝘆𝗲𝗿𝘀 𝗿𝗲𝗺𝗮𝗶𝗻 𝗮𝗰𝘁𝗶𝘃𝗲 and that appropriately priced, well-presented properties are continuing to achieve successful results.
• Conditions are particularly encouraging across regional Victoria, where 𝗺𝗲𝗱𝗶𝗮𝗻 𝗵𝗼𝘂𝘀𝗲 𝗽𝗿𝗶𝗰𝗲𝘀 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗯𝘆 𝟴.𝟯% over the year to $𝟲𝟱𝟬,𝟬𝟬𝟬, while unit prices rose by 𝟵% 𝘁𝗼 $𝟰𝟱𝟴,𝟬𝟬𝟬. Regional properties also sold in a 𝗺𝗲𝗱𝗶𝗮𝗻 𝗼𝗳 𝟰𝟵 𝗱𝗮𝘆𝘀 during July, compared with 58 days a year earlier, demonstrating that quality properties are attracting buyers more quickly in many regional markets.
• 𝗠𝗲𝗹𝗯𝗼𝘂𝗿𝗻𝗲’𝘀 𝗺𝗲𝗱𝗶𝗮𝗻 𝗵𝗼𝘂𝘀𝗲 𝗽𝗿𝗶𝗰𝗲 remains substantial at approximately $952,500, despite the recent quarterly adjustment. With fewer auctions reported than at the same time last year, vendors of quality properties may face less competition from other sellers. The market is not equally strong in every suburb, but the current data shows 𝗶𝘁 𝗰𝗮𝗻 𝗯𝗲 𝗮 𝗴𝗼𝗼𝗱 𝘁𝗶𝗺𝗲 𝘁𝗼 𝘀𝗲𝗹𝗹 when the property is supported by 𝗿𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝗽𝗿𝗶𝗰𝗶𝗻𝗴, 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗮 𝗰𝗮𝗿𝗲𝗳𝘂𝗹𝗹𝘆 𝗽𝗹𝗮𝗻𝗻𝗲𝗱 𝗺𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 𝗰𝗮𝗺𝗽𝗮𝗶𝗴𝗻.