Melbourne's northern suburbs leads weekend clearance rate

Melbourne's northern suburbs leads weekend clearance rate
Melbourne's northern suburbs leads weekend clearance rate

Melbourne weekend auctions are up year on year with March weekend clearance rates around 79.4 percent compared to 73.4 percent in March last year.

Andrew Wilson from Domain said next weekend numbers will be well down by comparison with just over 900 auctions listed.

"A higher clearance rate was recorded at the weekend despite a surge in pre-school holiday listings with 1351 auctions scheduled compared to 1212 the previous weekend," he said.

"Although the Melbourne housing market is in top shape for sellers, the local rental market remains tough for tenants, with February asking rents for houses surging 5.3 percent over the past year. Unit rents were also higher, increasing by 1.3 per cent since February last year.

"Melbourne’s northern suburbs are booming and recorded another strong weekend clearance rate at 90 percent.

"Behind but still strong was the south-east at 83.1 per cent followed by the north-east at 82.9 percent, the inner east at 80.8 percent and the outer east at 79.6 percent.

"The inner south recorded a clearance rate of 78.9 percent followed by the west at 78.8 percent and the highest sales at 152, and the inner city at 78.4 percent."

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Auctions Clearance Rate

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