Gil King REIV

Regional Victoria is experiencing the shortest Days on Market since 2010 according to the Real Estate Institute of Victoria (REIV).

For the first time, houses in metro Melbourne surpassed a median value of $1m jumping by 8.8 per cent from the previous quarter to land at $1,004,500.  

The 120 new rental tenancy standards that come into effect from 29 March will trigger uncertainty, confusion and an unbalanced regulatory burden on the market.

After months of lockdown and heavy restrictions, Victorian real estate is returning to regular operation and optimism is flooding in.

Under unprecedented pressures, real estate was able to adapt and evolve, by being on the front foot, trialling new technologies and creating new solutions.

Sydney has been the standout of the capital city auction markets in the first week of spring, recording a preliminary clearance rate of 83.1 per cent in the latest results from CoreLogic.

The seasonal impact of Spring may already be starting to show in the national auction market, with the latest results from CoreLogic indicating a rise in volume for the combined capital cities in the week finishing September 1.

Buyers continue to be out in force during the final weeks of winter, with the latest preliminary results from CoreLogic indicating the capital city clearance rate for the week ending August 25 could surpass the previous week's mark.

The final weekly clearance rate for the combined capital cities is expected to hold above 70 per cent for the first time in more than two years, according to the latest data.