This AFL Grand Final weekend, Melbourne achieved a 56 percent clearance rate. A total of 51 properties were listed, 31 were reported and 18 were sold yesterday with a median price of $801,000.
This weekend’s clearance rate was much lower than last weekend’s 73 percent. The rate has also been going down since September.
The low auction clearance rate can be attributed to the enthusiasm of people over the AFL Grand Final over selling and buying properties at auctions.
The current median price for houses in Melbourne is $668,030 and $443,549 for units.
In Victoria, 39 auctions were reported to the Real Estate Institute of Victoria (REIV). Of the total number, 24 were selling, 15 being passed in with nine on a vendor bid.
The top auction locations in Victoria were Mount Waverley with three auctions. Following behind are Box Hill South, Epping, Glen Waverley, Keysborough, Mildura, Reservoir and Springvale with two auctions in each.
For the month of September, the suburbs with the most number of auction sales were Reservoir (55 sales), South Yarra (46 sales) and Richmond with 42 sales.
The suburbs with the highest clearance rate reaching 94 percent were Bundoora, Nunawading, Caulfield South and Dingley Village.
Looking to buy in Melbourne and sick of missing out at auction? 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 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