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