Which 11 Melbourne suburbs are scoring 100 percent auction clearance rates?

Which 11 Melbourne suburbs are scoring 100 percent auction clearance rates?
Which 11 Melbourne suburbs are scoring 100 percent auction clearance rates?

Eleven suburbs across Melbourne secured 100 percent home clearance rates in April, according to Domain.

Melbourne had a very successful April under the hammer, with the more modest suburbs such as Keilor Downs and Taylors Hill batting above their average.

They lined up alongside the more traditional blue ribbon areas of Prahran and Canterbury who also enjoyed a 100 percent clearance rate in April.

Dingley Village in the city's south east recorded the highest number of auctions and Buxton director Jason Garlick said auctions have always been popular, but competition picked up in the last 12 months.

Garlick suggested the suburb was popular for its good schools such as Mentone Grammar, the new South Road bypass, the revitalisation of Dingley Village Shopping Centre and the introduction of Hawthorn Football Clubs HQ.

Domain chief economist Andrew Wilson said that there is a remarkably even spread in the Melbourne auction market.

“Even though Melbourne is much flatter than it was this time last year, it is clearly still a seller’s market and clearly the best auction market in the country.”
 
Suburbs with 100 percent clearance rates in April for units
 
Suburb         Auctions         Clearance rate

Armadale                 9              100 percent
Toorak                     7              100 percent
Croydon                  5              100 percent
Elsternwick           5              100 percent
Caulfield                 5              100 percent

Dr. Wilson said many lower-priced suburbs that had been relatively flat for a few years were now playing catch up due to the current low interest rates and an improving economy.

He said buyers had discovered their "almost irresistible affordability".

"Melbourne are also seeing a higher number of auctions in those areas, which is a reflection of that strong competition."

Buyers from suburbs closer to the city have been looking at Keilor Downs and Taylors Hill since the Melbourne market picked up about 18 months ago, according to Barry Plant director James Hatzimoisis.

“They realise they can buy more house for less money,” Mr Hatzimoisis said.

He said young families looking for more space for children were competitive for entry level properties.

Even upgrade buyers fought for higher-end properties because they were cheaper than the eastern suburbs.

The status quo still stands in unit auction clearance rates. Only five suburbs achieved a 100 percent rate across April.

 

Suburbs with 100 percent clearance rates in April for Houses

Suburb                 Auctions         Clearance rate

Dingley Village              14             100 percent

Keilor Downs                  9             100 percent

Parkdale                           9             100 percent

McKinnon                         8             100 percent

Tullamarine                     8             100 percent

Taylors Hill                      7             100 percent

Ashburton                       6             100 percent

Caulfield North               6             100 percent

Canterbury                       6             100 percent

Altona Meadows               6             100 percent

Tags: 
Melbourne Clearance Rate

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