Melbourne’s eastern suburbs having more auction success: REIV

The likelihood of selling your Melbourne home at auction is higher on the eastern side of the city than on the west, according to analysis by the Real Estate Institute of Victoria (REIV).

The map (below) shows suburbs in blue where auction clearance rate have been above the Melbourne-wide clearance rate for 2012 and in orange for those that have been below the Melbourne-wide clearance rate for 2012.

Source: REIV

Among the poorest-performing auction markets this year are Docklands (32% clearance rate from 25 auctions), Keilor in the north-west of the city (43% clearance rate from 21 auctions) and Maribynong (41% clearance rate from 75 auctions).

Suburbs that are well in the "blue" include Collingwood (81% clearance rate from 58 auctions), Hawthorn (77% clearance rate from 221 auctions) and Kew (67% clearance rate from 130 auctions).

Bucking the eastern suburbs trend, the outlying western suburb of Sunbury has achieved an auction clearance rate of 78% to date from just 23 auctions.

The data includes auctions held up to September 18, 2012, with the REIV pointing out that the majority of residential sales in Melbourne are by private sale.

The map shows the clearance rate in suburbs where they have had 20 or more auctions in 2012.

The REIV publishes auctions results on a weekly basis on Saturday nights after 7pm.