Melbourne's 10 weakest auction suburbs reveals tepid South Morang auction buyers
Jonathan ChancellorDecember 7, 2020
The year-to-date Melbourne wide auction clearance rate is 71%, but many suburbs are recording weak auction results.
Property Observer lists 10 of the weakest suburbs with 20 plus auction offerings so far this year.
- Dandenong 36 offerings 50% sold
- Frankston 26 offerings 50% sold
- Mt Eliza 20 offerings 50% sold
- Rye 46 offerings 48% sold
- St Albans 32 offerings 46% sold
- Dandenong North 31 offerings 45% sold
- Maribyrnong 55 offerings 40% sold
- Portsea 25 offering 36% sold
- Greenvale 20 offerings 30% sold
- South Morang 21 offerings 28% sold
Source: REIV
It is not to say that auctions don't work as a seven year old South Morang house (pictured above) was snapped up ahead of last weekend's auction.
In May $410,000 plus buyers are being sought for a four bedroom two bathroom house on Skyline Drive.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.