Melbourne auction record smashed, another big weekend coming: REIV

Melbourne auction record smashed, another big weekend coming: REIV
Melbourne auction record smashed, another big weekend coming: REIV

It was records galore at property auctions at the last weekend in Melbourne, in a spectacular near-finish to the 2015 auction year.

The 1,648 auctions held on Saturday broke the previous record for a single Saturday (1,626 auctions), set on October 25 last year.

Even for the week, it was a record, with 1,749 auctions held last week – 62 more than in the week ending October 26 last year.

And in a finish to the month that will take some beating, 5,669 auctions were held in November, 259 more than in the previous record month, November 2014, according to the REIV.

REIV CEO Enzo Raimondo said it was a remarkable year for Victoria’s property sector, with more homes going to auction than ever before: 39,380 across the state in the year to December 1, 5% more than the same period last year.

Raimondo said the high number of auctions really is creating strong options for buyers, with 1,560 due this Saturday.

“With the high number of auctions, the clearance rate is starting to moderate which offers buyers excellent opportunities to buy prior to year-­end,” he said.

“Melbourne property buyers really are spoiled for choice, with auctions in more than 350 suburbs in the next fortnight.”

Tags: 
Melbourne Residential Auctions

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