Melbourne Auction Results | 1 April 2017
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Melbourne’s auction market retained its clearance rate of 80 percent on Saturday although with less than a thousand listings. The total number of listed auctions was 947 while the number of reported auctions was up to 763. A total of 672 properties were sold with total sales amounting to more than $498,176,000. The median price was $846,000.
House prices in Melbourne remain high and latest reports say the city is expected to have $1 million house median by 2018. As such, housing affordability in the area continues to be a major concern. This 2017, Melbourne’s house prices are expected to increase at a more moderate level compared to previous years.
In the regional level, Victoria recorded a clearance rate of 81 percent on Saturday was 82 percent, up by 12 percent from last year’s rate.
There were lesser auctions held at 884 but this figure is still high compared to last year’s 513 during the same weekend. Sold during auction were a total of 586 properties while 133 were sold before auction. Of the total auctions reported to the REIV, 719 were selling, 165 were passed in with 62 on a vendor bid.
The clearance rate for houses was still at 84 percent with total auction volume recorded at $719 million. The clearance rate for units and apartments remained at 77 percent.
As for private sales, Victoria recorded a higher figure at 396 with total sale volume of $272 million.
Looking to buy in Melbourne and sick of missing out at auction? Thinking of selling and wanting trusted, impartial advice and hand holding to protect your interests throughout the entire selling process? Talk to us about how WE MAKE IT EASY to buy or sell your home.
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By Amalain Buyer & Vendor Advocates
Copyright 2017 | All Rights Reserved
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With a passion for financial empowerment through real estate and the leverage of passive income, Michelle started investing over 17 years ago, implementing diverse investment strategies to build her portfolio. Easily able to build rapport and empathise with others, she is a master negotiator who loves challenges and problem solving. Michelle’s tenacious nature and unwavering commitment to achieving the task at hand ensures that her clients always achieve the best possible outcome. Call NOW for a confidential FREE CONSULTATION on 03 8609 1234 or visit www.amalain.com.au.
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