19th November 2018 / Beth Oleyar: AUCTION SNAPSHOT

More Melbourne home owners are putting their property up for sale than they were 12 months ago. This volume of properties points to a 'buyer's market', allowing first-time home owners the opportunity to jump off the rental wagon.

With a clearance rate of just 49% across the state, a more balanced market is now the new status quo. CoreLogic Head of Real Estate, Geoff White said, 'the increase in the number of auctions we've had this weekend has obviously meant buyers have had more to choose from, which could have lead to the lower preliminary clearance rate'.

Over the weekend, Harley Toyle of Fletchers Canterbury sold single-level, village-edge home in Surrey Hills, complete with 3 bedrooms, high fencing and a leafy front garden. The property attracted a whopping 5 bidders, eventually selling for $936,000.