Real estate agents are currently enjoying the ‘perfect storm’, LJ Hooker’s national auction manager Graeme Hyde has said.
According to Mr Hyde, the recent spell of warm weather combined with the surge of new properties on the market has helped to create a very healthy market place.
Data from Australian Property Monitors showed most of the Australian capital cities had enjoyed a strong start to the spring auction season, with the auction market in Melbourne particularly robust.
The auction clearance rate was 76.0 per cent, 20 per cent higher than the first weekend of September last year.
“There is confidence in the market place and that confidence is growing,” Mr Hyde told Real Estate Business.
“Buyers realise that now is a good time to make their entry into the market, while prices are stable, and sellers can see that the prices are currently very good, having risen steadily from their historic lows a few months ago.”
Mr Hyde said LJ Hooker was currently enjoying fantastic clearance rates and the property market had made a dramatic recovery from last year’s spring slump.
“We are currently enjoying results beyond our own expectations. The market is very strong and both buyers and sellers are positive about the future – creating the perfect storm for real estate agents.”