Bumper weekend auction market for Melbounre
Melbourne is set to hold the biggest auction weekend so far this year with more than 1,500 homes slated for auction, according to the REIV.
The REIV state 1,420 homes across 341 suburbs going to auction on Saturday.
Joseph Walton, REIV president, said the 2017 auction market is one of the strongest in recent years with volumes up 13 percent on the same period last year.
“Multiple auction records fell in February when more than 3,200 homes went to auction and close to 2,570 sold under the hammer,” he said.
“High auction volumes have continued throughout March with the current clearance rate of 79 percent signalling ongoing buyer and vendor confidence.
"The solid start to the year followed the strongest December in the state’s history – in terms of both auction volumes and sales.
“The 2016 auction market remained buoyant right up until Christmas eve with low interest rates and high clearance rates encouraging more vendors to sell their homes well after the traditional spring selling season."
