Melbourne weekend auctions nearly break listings record

Melbourne weekend auctions nearly break listings record
Melbourne weekend auctions nearly break listings record

Weekend auction listings in Melbourne almost surpassed the May record set in 2014, according to Domain's Andrew Wilson.

He said on Saturday 1120 homes were listed to go under the hammer, just below the record May weekend auction listings of 1147 set in 2014.

"This was well ahead of the previous weekends 933 auctions and also well ahead of the 759 listed over the same weekend last year," he said.

"In a sign that demand is strong as ever, the clearance rate was 79.7 percent – higher than the 78.3 percent recorded the previous weekend and remaining well ahead of the 73.8 percent recorded over the same weekend last year.

Next weekend will provide another record-level May Saturday of auctions with again well over 1100 listings likely.

"This weekend’s auction result follows the ABS reporting that seasonally adjusted national retail sales fell again over March following the fall recorded over February. This was the first consecutive monthly decline in national retail turnover since November 2012 and reflects the impact on consumers of record low incomes growth, higher unemployment and significant under-employment.

"Melbourne’s northern suburbs produced another bullish result to again lead the regions with a clearance rate of 86.8 percent.

Next highest was the inner east with 82.6 percent followed by the south east 82.1 percent, the north east 82.0 percent, the west 81.4 percent and the highest reported sales at 127, the outer east 78.5 percent, the inner city 77.4 percent and the outer south with an auction clearance rate at the weekend of 77.3 percent."

Tags: 
Melbourne Residential Sales

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