Melbourne keeps auction success in its 70% plus spring carnival stride: REIV

Melbourne keeps auction success in its 70% plus spring carnival stride: REIV
Melbourne keeps auction success in its 70% plus spring carnival stride: REIV

Melbourne notched up a clearance rate of 71% on the weekend compared to 73% last weekend.

The 71% matched the same weekend last year, according to the REIV.

There were 1358 auctions reported to the REIV, with some 1600 plus results to make the full weekend tally. 

Next weekend, the REIV is expecting 550 auctions – the highest ever for any Melbourne Cup Day weekend and more than double the number of auctions held last year.

 

Most Auctions – Melbourne (year to October 23):

Suburb

Total Auction

Sold at auction

Clearance rate

RESERVOIR

525

380

72%

RICHMOND

411

329

80%

GLEN WAVERLEY

403

317

79%

MOUNT WAVERLEY

388

325

84%

South Yarra

373

274

74%

ST KILDA

363

258

71%

Bentleigh EAST

332

272

82%

KEW

311

239

77%

Glen Iris

310

268

87%

Balwyn North

300

243

81%

Biggest increase in auctions (year to date comparison):

 

 

2015 YTD

2014 YTD

 

Suburb

Total Auction

Clearance Rate

Total Auction

Clearance Rate

Auction Increase

Wantirna South

151

88%

65

89%

86

GREENSBOROUGH

186

89%

107

75%

79

MOUNT WAVERLEY

388

84%

310

84%

78

GLEN WAVERLEY

403

79%

335

82%

68

BLACKBURN

199

80%

133

84%

66

BURWOOD

181

77%

121

80%

60

LALOR

186

71%

129

59%

57

CRAIGIEBURN

247

68%

191

69%

56

Noble Park

188

81%

135

69%

53

ELTHAM

124

78%

72

75%

52

 

Source: REIV

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Auctions Clearance Rate

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