Melbourne recorded a low clearance rate of 66 percent in yesterday’s auctions. A total of 490 properties were listed for auction, 371 were reported and 252 got sold. The total amount of sales noted was more than $151 million based on data from the Domain Group.
The clearance rate for Victoria over the weekend was also lower than the previous weekend at 67 percent. The rate was the similar for the same weekend last year.
A total of 433 auctions were reported to the Real Estate Institute of Victoria (REIV). Of that figure, 288 were selling, 145 being passed in and 60 of those passed in were on a vendor bid.
Yesterday, 67 properties were sold prior to auction and 221 were sold during auction. The total volume recorded was $230.8 million.
For houses, 312 were auctioned, 114 for flat/apartments and four for vacant land. A total of 361 private sales were also recorded.
For November, more than 5,000 properties are scheduled to be auctioned. This is predicted to be the biggest auction month of the year.
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
