Dingley Village strong as Melbourne auction volumes up 15%: REIV

Dingley Village strong as Melbourne auction volumes up 15%: REIV
Andrea DixonOctober 13, 2014

Melbourne’s auction numbers for the September quarter have raised the bar for auction clearance rates.

The city had about 8,165 auctions in the past three months, which is 15% up on the same time last year, according to Real Estate Institute of Victoria (REIV).

Melbourne’s middle and outer suburbs staged more auctions and accounted for 16% of total auctions, showing a 3% increase.

Clearance rates in middle suburbs remained strong led by Dingley Village, Bulleen and Montmorency with clearance of over 90%.

A four-bedroom house at 10 St Marks Close, Dingley Village sold for $773,000 through Buxtons. The median house price for Dingley Village is $605,000 according to realestateview.com.au.

Inner locations such a Hawthorn East and Collingwood also posted high clearance rates.

Renovated houses in Hawthorn East are hot items with a three-bedroom Invermay Close house selling for $1.22 million.

 “The inner and middle south-east and eastern suburbs have consistently been the city’s hot spots in terms of the volume of auctions,” says REIV chief executive Enzo Raimondo.

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