This afternoon the reserve bank have decided to leave the cash rate on hold at 1.5%.
The very strong Melbourne market market continues with a clearance rate of 79% recorded by the REIV on the weekend, this is compared to 76% last weekend and 64% this weekend last year.
We only have 2 Auction weekends left this year and it is wrapping up with our market conditions continuing to flourish, stock levels remain low along with population growth and record low interest rates meaning buyer demand is outweighing supply.