The Melbourne auction market maintained its performance yesterday and recorded a 69 percent auction clearance rate, similar to last weekend’s figure. Saturday saw the first big auction weekend in Melbourne this year with a mix of townhouses and larger homes up for sale. First homebuyers still accounted for most of those who took part in auctions.
More homes went under the hammer as evidenced in the total number of scheduled auctions at 1,380 compared to last weekend’s 770. The number of reported auctions was 1,060. Of those auctioned, 745 were sold and 21 were withdrawn. Total sales recorded was more than $604,978,000 while the median price was $846,000.
On top of the list with the most properties on auction were Brighton East and Reservoir based on data from the Domain Group. Following closely were Camberwell and Glen Iris.
In the western section, Yarraville, Werribee and Essendon were leading with 265 total number of listings. The north east was not to be outdone with Bundoora, Preston and Northcote in the lead while Malvern East, Brighton and Sandringham were on top of the list in the inner south. In Brighton East, properties near schools were attracting buyers ready to compromise on the house so long as they are the near the best schools in Melbourne.
The Real Estate Institue of Victoria noted that the high volume of auctions will continue in the coming weeks until the Labor Day long weekend.
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By Wendy Chamberlain
Copyright 2018 | 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 Buyers Advocate gives her buyers an experienced voice they can trust when it comes to negotiating to purchase something as important as their new home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.FollowWendy.com for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
