Up to 20 per cent more people are attending open for inspections in Melbourne in recent weeks even as online property viewings remain steady, a Victorian-based real estate group has claimed.
A recent survey of 42 Melbourne-based Barry Plant Group principals showed there has been a 10-20 per cent increase in traffic at open for inspections over the past three weeks.
The Barry Plant Group principals' survey also showed during the same period there was only a marginal increase in online viewings.
More than 70 per cent of the Barry Plant Group agents agreed that this increase in physical traffic indicated that the market is beginning to pick up.
"The more serious buyers are the ones actually going to view the properties at open for inspections, so I would say this is a very strong indicator that the market is about to pick up," Barry Plant CEO Mike McCarthy said.
"That sentiment is backed up by the lift in auction clearance rates,” Mr McCarthy continued.
“In 2011 we saw a lot of buyers simply holding back but the buyers are now starting to take action which is indicative of the results of the first two serious auction dates so far this year.”