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Melbourne Auction Market Cools Down

By Admin | Sep 29, 2015 at 12:08 pm | 0 Comments |

From the past week’s auction results, it has been seen that the Melbourne auction market is getting weak. The clearance rate was 73.3% this Saturday, lower from last weekend as well as the same week of the previous year.

If we talk about the regional results, the percentage was as follows:

  • The highest one was south east 80.4 % clearance rate.
  • Then comes north east with 80.3% clearance rate.
  • Next comes inner south with 78.6% clearance rate.
  • Then comes outer east with 74.6% clearance rate.
  • Further comes north with 72.3% and west with west 72.1% clearance rate.
  • Lastly, inner east comes with 70.5% and the inner city with 67.4% clearance rate.

This week the auction price in Melbourne was $793,972 down from $806,222 in the past weekends. Whereas local trend auction prices remain 10.4 per cent higher than the $719,375 recorded over the same weekend last year.

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