Yesterday was a record auction day for October in Melbourne achieving a clearance rate of 74 percent. There were a total of 1,250 properties listed, 981 reported and 737 sold.
Domain Group noted that home sellers were more motivated to sell due to the weakening market in recent months.
Across Victoria, the spring auction market remains to be strong. A total of 805 properties were selling, 287 being passed in and 115 of those passed in were on a vendor bid.
In terms of private sales, there were a total of 432 while there were 358 for flats/apartments and 12 for vacant land.
27 Manchester Lane Parkville
Auctioneer Michael Pastrikos from Ray White Southbank led the auction of a spacious 1 bedroom apartment with a large courtyard. With a crowd of 22 in attendance, the auction started with an opening bid of $400,000 and a vendor bid of $440,000. With one bidder showing interest to the property, the house passed in at $450,000 and sold shortly thereafter for $488,000.
14 Cade Square Parkville
Auctioneer Rob Elsom from Hocking Stuart Carlton led the auction attended by a crowd of 60. The opening bid was $600,000 with a vendor bid of $640,000. The property was on the market at $710,000 and sold for $755,000 with four bidders.
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less. Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
Copyright 2015 | All Rights Reserved
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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a
