Auction numbers still rising in Melbourne

Auction numbers still rising in Melbourne
Auction numbers still rising in Melbourne

Nearly 1100 homes are slated for auction across Melbourne this weekend, well below the 1339 auctioned over the same weekend last year.

Around 950 auctions are slated for this weekend in Sydney according to CoreLogic, with Mosman the busiest suburb for auctions.

Domain chief economist Andrew Wilson said auction numbers are still rising in Melbourne’s late spring market providing more choice for buyers who continue to secure property at the highest rate in years for this time of the year.

"The inner south will provide the most auctions this weekend in Melbourne with 175 closely followed by the west with 172, the north east 158, the inner east 133, the inner city 124, the outer east 107, the north 104 and the south east 82," he said.

"Reservoir is once again Melbourne’s most popular auction suburb this weekend with 22 followed by Glen Iris and East Bentleigh with 17 each, Brighton 15, Elwood 14 and a number of suburbs with 13 auctions scheduled including Cheltenham, South Yarra and Kew.

"Despite a surge in listings, Melbourne recorded another healthy result for sellers with a clearance rate of 79 percent. This was higher than the previous weekends 78.3 percent and well ahead of the 69.7 percent reported over the same weekend last year.

Tags: 
Auctions Residential Sales

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