The first weekend of spring did not disappoint, with higher numbers of properties up for sale. In terms of results, there were 683 auctions held this weekend across Melbourne with 524 properties selling, and 159 being passed in, 74 of those on a vendor bid, resulting in a clearance rate of 77%. In addition to the auctions, there were also 382 private sales recorded over the weekend.

There’s a perception that low interest rates aren’t the only factor pushing up Melbourne house prices, there’s also the buyers who have repeatedly been outbid at auctions, causing them to bid more aggressively at subsequent auctions. Hopefully this group of unsatisfied bidders will turn around in the next few weeks as more housing stock will become available on the market.

Quarterly figures released last week by RP Data gave a 6.4 per cent jump in Melbourne’s home values over winter. Interestingly, the largest improvements in value in 2014 has been with high-priced properties above $800,000.

 From today, we expect to see a whole new range of properties arriving on the market and we look forward to seeing what’s available.