Market Update

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Melbourne’s glorious spring blossoms are now on show. Australia has ushered in a new Prime Minister, and we see interest rates at an all-time low. The national Consumer Sentiment Index is at its highest level since December 2010. According to the index, Victorian consumers are the nation’s most optimistic.
For the week ending September 22, the REIV reported 887 auctions, about 28% above the 10-year average. 690 of these sold, while 197 passed in.
As Melbourne geared up for its biggest footy spectacle, the Grand Final, the number of expected auctions for the AFL’s most famous weekend dropped to 60.
The REIV predicts a buoyant market for the rest of 2013, driven by high demand and low stock levels.

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