The auction market in Melbourne recorded a 74 percent clearance rate on Saturday slightly lower compared to last weekend’s 76 percent. The number of listed auctions was 762 and the number of reported auctions was 560.
Sold over the weekend were a total of 420 properties with total sales amounting to more than $339,700,000. The median price recorded was higher at $820,000.
East Bentleigh had the most number of listed auctions on Saturday with 15 followed by Reservoir, Mill Park, Port Melbourne, Werribee, Richmond, East Hawthorn and Glenroy.
The western suburbs continue to be the most popular area for auction with 144 homes listed over the weekend. The inner south is next in line with 105 while following behind are the north east (101), inner city (92), inner east (89), outer east (81), the north (63) and the south east (55).
The Domain Group reported that Melbourne recorded strong auction results for sellers at the end of July. This is in contrast to the usual quiet mid-winter auction season.
On the average, Melbourne achieved an auction clearance rate of 74.8 percent in July. This is a reflection of a strong demand for property particularly for homebuyers who prefer to purchase during the middle 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 2017 | 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.
