By ALESHA CAPONE
HOMES up for auction in Hillside are selling at a rate higher than the Melbourne average so far this year.
Figures from the Real Estate Institute of Victoria (REIV) show 77 per cent of homes auctioned off in Hillside have sold during 2013, five per cent above the average metropolitan clearance rate of 72 per cent.
The REIV said most homes in Melbourne were sold through private sales, but other suburbs in Brimbank and Melton had also recorded strong clearance rates at auctions.
In Taylors Lakes, 67 per cent of homes under the hammer have sold, followed by East Keilor and Sunshine West on 64 per cent.
Tullamarine has lodged a clearance rate of 63 per cent, Sunshine 61 per cent and Sunshine North 54 per cent.
Almost 50 per cent of Caroline Springs abodes up for auction have sold and 46 per cent of St Albans residences.
The REIV figures did not include suburbs where less than 20 auctions have been held throughout the year.
Licensed estate agent and auctioneer, Frank Barbakos, from Boran Real Estate in Sunshine, said the housing market in the West was shaping up well.
“Across the board, it’s very healthy. There are people coming out and getting back into buying mode and real estate the flavour of the month again,” he said.
“The momentum out there is pretty good and there are still some good houses out there.
“People seem to be looking for something affordable – something with a two in front of it seems to be the favourite.
“It looks like anything in the high 200s – say $280,000 – or the low 300s will do well.
“I think the general thing is, you can still get a reasonable house for that price and also have a bit of change left in your pocket for renovations or anything else you want to do.”
