Melbourne’s auction clearance rates these past weeks have remained steady at 73 percent. A total of 1,101 auctions were listed and 888 reported this weekend. The total number of properties sold was 658 with 10 withdrawn while the median price recorded was $751,000.
According to Domain.com.au, the fastest growing suburbs in Melbourne today are Middle Park followed by Fitzroy, Prahran, Mont Albert and Box Hill South.
In Victoria, a 74 clearance rate was recorded this weekend. A total of 965 auctions were reported to the Real Estate Institute of Victoria (REIV) with 710 selling and 255 being passed in. Of the properties passed in, 110 were on a vendor bid.
A total of 150 properties were sold prior to auction and 560 were sold during auction. This weekend, 370 private sales were recorded with a total volume of $240.66 million. For flats and apartments, a 64 clearance rate was achieved with a median price of $600,000 while 9 vacant lands were auctioned with a median price of $410,000.
For next week, the REIV expects some 65 auctions owing to the AFL Grand Final. The AFL is considered Melbourne’s biggest sporting event.
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
WANT TO USE THIS ARTICLE?
You can as long as you include the following (links must be active):
With a passion for all things real estate spanning 18 years, Wendy loves that her role as a
