Since the beginning of the year, a consistent Melbourne-wide success rate has hovered around 75% and Autumn has begun with similarly strong results, particularly in Bayside and the Inner West. Last week, the Board of the Reserve Bank of Australia decided to leave the cash rate unchanged at 2.0% noting that the global economy is showing signs of gradual improvement. This will undoubtedly add fuel to the Bayside and Inner West real estate fire.
Last weekend auction numbers dropped across the board due to the Labour Day long weekend but committed buyers were still active in creating another weekend of competitive bidding at auction.
Our stand out auction was at 40 Summerhill Rd West Footscray, a pretty Art Deco home full of character and features, moments from Footscray Market and Highpoint Shopping Centre.
Strong bidding from four separate prospective buyers saw this property sell under the hammer, incredibly well for $685,000 to excited first home buyers!
This coming Saturday 19 March is tagged as a ‘Super Saturday’ predicted to be packed full of frenzied seller and buyer activity as it’s the last weekend prior to the Easter break with a surge of auctions across Melbourne: 1599 as opposed to only 13 marked for Easter Saturday.
In other news, this week we announced Compton Green’s collaboration with Thankyou! Daniel and Justine’s journey that started with Thankyou water, muesli and body care has led to this week’s launch of Thankyou baby and Daniel’s book Chapter One. We have been totally inspired by their story and business model where 100% of profits fund life-changing programs to assist the world’s poorest. For our two brands to collaborate seemed a perfect match!
Here’s wishing you a fabulous weekend of mixed Melbourne weather!