Saturday’s auction in Melbourne achieved a clearance rate of 76 percent with a median price of $802,000. A total of 550 properties were sold from the 716 reported and 878 listed.
Regionally, Victoria recorded a clearance rate of 76 percent compared to last weekend’s 78 percent. A total of 825 auctions were reported to the Real Estate Institute of Victoria (REIV) with 629 selling and 196 being passed in. Of the number being passed in, 74 were on a vendor bid.
For the entire region, a total of 107 properties were sold prior to auction and 522 were sold at auction with a total volume of $594.43 million. There were 410 private sales recorded. In total, 256 flats/apartments and 17 vacant land were auctioned.
The southeast and eastern suburbs of Melbourne were very popular among buyers in August. Bentleigh recorded the highest clearance rate at 95 percent followed by Glen Iris and Caulfield South which both achieved a clearance rate of 91 percent.
2/33 Gladstone Parade Glenroy
Auctioneer Claudio Cuomo from Stockdale & Leggo Glenroy led the auction on a sunny Spring day in Melbourne. A small crowd of 15 people was in attendance at the property advertised at $370,000. There were two bidders during the auction with an opening bid of $370,000. The property was on the market at $412,000 and was sold for $416,000.
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
