Melbourne March quarter auction success rate down in six of nine sub-regions: CoreLogic

Over the March 2018 quarter, Melbourne clearance rates fell across six of the nine sub-regions when compared to the previous quarter, while auction activity was lower over the same period.

Clearance rates ranged from 73.5 per cent across the North West, to 60.4 per cent across the inner East, with the largest fall seen across the West, according to CoreLogic.

In terms of auction volumes, CoreLogic noted Melbourne’s Inner region was the busiest spot for auctions this quarter with 1,743 homes taken to auction, followed by the West (1,392) and Inner South (1,249) sub-regions.

Overall, Melbourne’s clearance rate has seen little change over the quarter, increasing by just 0.3 per cent, despite hosting 6,280 fewer auctions than December 2017, however year-on-year, auction activity has increased by 824 auctions, while the clearance rate has fallen 10 per cent.

A South Yarra two bedroom apartment sold at auction for $725,000 (pictured below) in February.

Situated at 4/110 Caroline St, the apartment comprises two large bedrooms, designer kitchen, and central bathroom with laundry facilities. 

This property has security entrance and an entrance foyer plus carport on title.

It is close to the Yarra River, Botanical gardens and city.