Victoria's auction clearance rates down for June: REIV
Victoria's auction clearance rate decreased to 74.6% for June, down from 75.4% in May.
For June, the strongest region was Melbourne's Outer East. Data from the Real Estate Institute of Victoria (REIV) shows that the area had a June clearance rate of 82.7%, up from May's result of 80.5%.
The weakest auction results were recorded in the West, where only 65.1% of homes auctioned in June sold at auction. The previous month's result was slightly better, with a clearance rate of 65.3%.
The biggest monthly improvement (on a percentage point basis) was recorded in North. There, the May clearance rate was 67.5%. In June, 73.6% of homes auctioned sold at auction. Victoria's North East region saw the largest drop, with the clearance rate falling from 78.4% to 72.5%.
This weekend saw strong clearance rates in Victoria, with all regions except the North and West recording a higher proportion of auction sales than were recorded at the same time last year. The total clearance rate for this weekend (29 June) was 75.0%.
Region | June clearance rate | May clearance rate |
Inner Urban | 73.2% | 77.5% |
Inner East | 78.1% | 78.8% |
Inner South | 75.0% | 78.5% |
South East | 72.3% | 72.2% |
Outer East | 81.8% | 80.5% |
North East | 72.5% | 78.4% |
North | 71.3% | 67.5% |
West | 65.8% | 65.3% |
This weekend's clearance rates by region, from REIV:
Region | 29 June 2014 | 30 June 2013 | ||||
Weekend Total | Sold | %Sold | Weekend Total | Sold | %Sold | |
Inner Urban | 28 | 22 | 79.0% | 24 | 18 | 75.0% |
Inner East | 17 | 14 | 82.0% | 31 | 22 | 71.0% |
Inner South | 10 | 9 | 90.0% | 4 | 2 | 50.0% |
South East | 78 | 55 | 71.0% | 80 | 54 | 68.0% |
Outer East | 118 | 102 | 86.0% | 97 | 77 | 79.0% |
North East | 34 | 29 | 85.0% | 39 | 29 | 74.0% |
North | 48 | 38 | 79.0% | 37 | 32 | 86.0% |
West | 74 | 46 | 62.0% | 63 | 44 | 70.0% |