Melbourne property market booming

The Real Estate Institute of Victoria (REIV) is predicting the property market from the start of the year until Easter is likely to be the strongest Melbourne has ever seen.

REIV says about 830 homes went up for auction across the city on Saturday, with a clearance rate of 87 per cent.

REIV spokesman Robert Larocca says more than a thousand homes are expected to go under the hammer next weekend.

He says the auction market often peaks just before Easter.

"If next weekend continues what we've seen yesterday, then it'll be the strongest market we've seen before Easter and it will certainly indicate that affordability is going to be a growing concern this year for homebuyers," he said.

... read original article
Sun 21st March 2010 - 10:17am