Melbourne buyers warned waiting could cost them $80k

Melbourne has 774 homes scheduled for auction this week, down 56 per cent from a year ago, but still more than any other capital city. Melbourne homebuyers are being urged to act before November’s election, with one buyers advocate claiming early buyers could save $80,000 on an $800,000 home. The warning comes as new REA Group figures show just 774 Melbourne homes are set for auction this week, down 56 per cent from a year ago. Melbourne still has more auctions scheduled than any other capital city, ahead of Sydney’s 694. RELATED: Ex-Block stars eye six-figure Vic home deal Aussie adults-only museum’s wild new chapter Uniting Church lists prime Barwon Heads site for $3m It is the second weekend under Victoria’s new auction rules, which require sellers to reveal their reserve prices at least seven days before auction. MR Advocacy founder Madeleine Roberts said interstate investors were already looking at Melbourne’s cheaper properties ahead of the November 28 election. “I see the level of inquiries. I see the level of buyers looking to sign on,” Ms Roberts said. “If we have a change of government, they’re not waiting for anything to happen.” Buyers could be missing out on huge savin...