Why property experts are bullish about the real estate market — starting this weekend

Property experts are bullish about the real estate market as Victoria prepares for the biggest auction weekend in Victoria since February.

About 1060 properties are expected to go under the hammer, with 20 listed in Richmond and 15 at Reservoir.

That the weekend before the AFL grand final features so many auctions is not unusual nor indicates prices are high.

But Robyn Waters, president of the Real Estate Institute of Victoria, told Ross and John there’s more pertinent signs that our property market continues to recover.

Victoria has seen a clearance rate of over 70 per cent for 13 consecutive weeks, and there was a healthy clearance rate of 76 per cent last weekend.

“Same time last year was only 57 per cent,” Ms Waters said.

“We don’t have a crystal ball but all indicators say the market is becoming more certain.”

She said stable state and federal governments and low interest rates meant confidence was growing.

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