Melbourne sets new auction record for August

Melbourne sets new auction record for August
Melbourne sets new auction record for August

A record 1,120 auctions are slated for Melbourne this weekend, breaking the previous record of 1,030 auctions set in the second week in August.

Some 810 auctions were held on the same weekend last year. 

Real Estate Institute of Victoria CEO Enzo Raimondo said clearance rates in suburbs such as Bayswater, Dingley Village and Wantirna, have been recorded well above 90%. 

“But strong clearance rates and high auction numbers in Melbourne’s middle and outer suburbs show that buyers are increasingly seeking value, and space, in the more affordable areas," he said.

“The heightened demand for homes in these locations is driving a push towards more auctions, with vendors benefiting from strong competition on auction day.”

 

Melbourne’s top auction suburbs in the year-to-date:

 

 

 

Suburb

Total Auctions

Sold at Auction

Clearance Rates

RESERVOIR

     387

     277

     72%

GLEN WAVERLEY

     306

     244

     80%

RICHMOND

     298

     241

     81%

ST KILDA

     285

     211

     74%

MOUNT WAVERLEY

     279

     240

     86%

 

Suburbs with the highest clearance rates in the year-to-date:

Suburb

Total Auctions 

 Sold at Auction 

 Clearance Rates

BAYSWATER

      51

     49

     96%

Dingley Village

      64

     61

     95%

WANTIRNA

     100

     95

     95%

HEATHMONT

      59

     56

     95%

VERMONT SOUTH

      84

     79

     94%

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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Auction Home Sales

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