Melbourne auctions return as Victorian real estate conditions shift

No. 17 Rialton Ave, Blackburn North, sold for $ 1.765m on Saturday.

Longer days in the market, lower interest rates and lower inflation are expected to hit the Victoria 2022 stock market.

And sales figures will not arrive until the end of Australia Day, experts say.

Victoria has 137 sales planned this week, according to – far far from the number of sales that appeared at the end of last year, but not uncommon in January.

The government traded 4807 trades last month to establish a record for December.

The 72 sales made last week refunded an interest rate of 81 percent, found.

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A modern looking kitchen inside 17 Rialton Ave.

A renovated four-bedroom apartment back to Slater Reserve in 17 Rialton Ave, Blackburn North, was the largest seller of all.

It sold for $ 1.765m last Saturday, when a two-bedroom beach house at 2554sq m block. 2-4 Wonga Lane, McCrae, took $ 1.61m under the hammer.

Barry Plant CEO Mike McCarthy said 2022 started without a “big closing party” that encouraged buying and selling in January last year.

“(But) there’s still a lot, a lot of consumer questions,” McCarthy said. “There are deals still going on.”

He also said he expects to see a “normal” housing market this year, following two years of turmoil that included a ban on real estate sales, as well as an 18 percent increase in house prices, according to CoreLogic.

No. 2-4 Like Lane, McCrae, sold for $ 1.61m.

Interest rates could return to 60-70 percent, with market days reaching 30 to 40 days, McCarthy said.

“We are based on the quantity of the most important items and history, having done this … the amount of the items that are most in demand leads to a downward and a stable market,” he said.

Ray White Victoria and Tasmania chief Stephen Dullens predicted that the latest Omicron Covid-19 waves would have less of a problem on the market compared to previous viruses.

“Instead of just stopping and stopping, we are just finding ways to make things go wrong,” Dullens said.

“I don’t think it will be as we saw it in August, when everything had to be stopped.

No. 16 Edith St, Noble Park, walking under the hammer this week.

“The agent has come to the point where they have all the weapons in their hands. The sellers are

real understanding, consumers understand.

“Then everyone just puts their heads together and uses common sense, and we believe we can do things.”

No. 11 Eagle Court, Craigieburn, has a commercial set up on January 20.

Join Herald Sun Weekly Real Estate Update. Dinani Pano to get the latest Victorian Properties market news sent to your inbox.

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