43% of 2014 Victorian sales by auction: REIV
Jonathan ChancellorDecember 7, 2020
There were some 105,000 property transactions across Victoria in 2014, with around 87,000 sales in Melbourne, according to the Real Estate Institute of Victoria (REIV).
Some 43% of sales in 2014 in Melbourne were by auction, compared to 37% in 2013.
During the December quarter 2014, three suburbs - Richmond, Northcote and Strathmore - joined the million dollar median list for the first time.
In 2014, auctions accounted for 60% of all sales within these suburbs.
"As a result of the increased volume of auction sales last year, the median price for houses sold by auction in the 12 months ending December 2014 increased by 7%," REIV chief Enzo Raimondo said.
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.