super saturday shows healthy melbourne market

http://m.heraldsun.com.au/realestate/super-saturday-shows-healthy-melbourne-property-market/story-fnczi4hc-1226584210646

Seventy-three per cent of the about 1000 properties auctioned yesterday sold, the best clearance rate since a 75 per cent recorded on May 23, 2010, and the best Super Saturday result since March that year.

"It's been over two years since the auction market was this healthy," Mr Larocca said.

Wakelin Property Advisory director Richard Wakelin yesterday predicted inner-city suburb prices would now leap 5 per cent in six months.

"There's a return of confidence and we think that the market is going to lift five per cent very quickly. . . within six months," he said.

Meanwhile, Buxton auctioneer Craig Williamson said he believed he had seen a level of fear among buyers yesterday that hadn't been present in 2 1/2 years.

"The buyers are bidding with just a little bit of fear and panic coming into the equation," he said.


Lol how's that crash coming along bears?