Melbourne Auction Results | 7th April 2018

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Melbourne’s auction market achieved a 66 percent clearance rate on Saturday, an improvement from last weekend’s 61 percent. The number of scheduled auctions also went up to 601 from 25 the previous week.

The number of reported auctions increased to 477 and the total number of properties sold was 333. Total sales recorded was more than $227,562,000 while the median price was $692,000.

According to CoreLogic, although the volume of auctions over the weekend had the most significant increase, the overall activity was lower than the same period last year. It also noted that both clearance rate and auction volumes dropped across Melbourne last week.

In terms of the busiest suburbs, Craigieburn in Victoria was the busiest for auctions. It was also the area with the most sales in the previous week. Following behind Craigieburn was Mount Waverley.

CoreLogic Victorian director Geoff White earlier said the lower clearance rate in the previous weeks was proof that the market was adjusting and it’s not a bad sign. For his part, Wakelin Property Advisory director Paul Nugent described the clearance rates this year as very healthy and balanced for the housing market. He added that this current condition allows people to buy a property with confidence and have many to choose from.

Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less.

Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?

Wendy Chamberlain from Social Property Selling

By Wendy Chamberlain
Copyright 2018 | All Rights Reserved

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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a Buyers Advocate gives her buyers an experienced voice they can trust when it comes to negotiating to purchase something as important as their new home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.FollowWendy.com for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.