As the Melbourne housing market weakens some home owners are dropping their asking prices or making minor updates in preparation to relisting properties that had previously failed to sell. Wendy Chamberlain has spoken to The Sunday Age regarding this topic. “I’ve been seeing this for the past 12 to 18 months where an agent will have a property on the market and they’re trying to sell it for an …
Melbourne Auction Results | 16th March 2019
Melbourne recorded a 56 percent auction clearance rate over the weekend. The number of scheduled auctions on Saturday was 744 while the number of reported auctions was 549. Many of the properties sold were transacted after being passed in. The number of properties sold was 322 with total sales amounting to more than $192,834,000. The median price in the area was pegged at $765,000. In demand …
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RBA rates on hold for 29th consecutive month
The Royal Bank of Australia yesterday announced that interest rates will remain at 1.5 per cent, where it has sat ever since August 2016. RBA governor Philip Lowe said the low interest rate would continue to support the economy: "Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual," "Taking …
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Melbourne Auction Results | 8th December 2018
Melbourne recorded a low auction clearance rate of 44 percent over the weekend. This was an improvement as the clearance rates fell below 40 percent on four weekends this spring. The number of scheduled auctions on Saturday was 1,057 while the number of reported auctions was 755. The number of properties sold was 353 with total sales amounting to more than $204,357,000. As for the median price …
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Melbourne Auction Results | 1st September 2018
Melbourne's auction clearance rate improved on Saturday at 59 percent compared to last weekend's 58 percent. This was a big improvement from the low 54 percent in the past two weeks. The number of scheduled auctions was 725 compared to the previous week's 791. The number of reported auctions over the weekend was 553 while the number of properties sold was 340. Total sales recorded was more …
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Melbourne Auction Results | 25th August 2018
Melbourne's auction market slightly improved on Saturday achieving a clearance rate of 58 percent compared to last weekend's low of 54 percent. The number of scheduled auctions was 791 compared to the previous week's 771. The number of reported auctions was also up at 602 while the number of properties sold was 359. Total sales recorded was more than $260,177,000 while the median price in the …
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Melbourne Auction Results | 18th August 2018
Melbourne's auction clearance rate further dropped on Saturday to a low of 54 percent from last weekend's 58 percent. This was despite a higher number of scheduled auctions 771 compared to the previous week's 642. The number of reported auctions was also up at 590 while the number of properties sold was 329. Total sales recorded was more than $227,102,000 while the median price in the area was …
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Melbourne Auction Results | 11th August 2018
Melbourne's auction market remains to be slow performing with a clearance rate below 60 percent. Over the rainy and windy weekend, it recorded a 58 percent clearance rate. The number of scheduled auctions was 642. The number of reported auctions was 492 while the number of properties sold was 296. Total sales recorded was more than $217,951,000 while the median price in the area was pegged at …
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Melbourne Auction Results | 28th July 2018
Melbourne's auction market slightly improved over the weekend recording a clearance rate 58 percent. The number of scheduled auctions 687. The number of reported auctions was 507 while the number of properties sold was 320. Total sales recorded was $223,223,000 while the median price in the area was pegged at $766,000. Properties that performed the strongest over the weekend were the …
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Melbourne Auction Results | 14th July 2018
Melbourne's auction market was steady over the weekend achieving a clearance rate 56 percent, similar from the previous week. The number of scheduled auctions was down to 484 from 526. The number of reported auctions was also down at 377 while the number of properties sold was 220. Total sales recorded was $149,977,000 while the median price in the area was pegged at $709,000. The Domain …
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