Yesterday’s auction recorded a 76 percent clearance rate compared to 74 percent for the entire state of Victoria. A total of 839 auctions were listed while 671 were reported to the Real Estate Institute of Victoria (REIV). Of the total number, 512 properties were sold with a median price of $787,000.
For the whole Victorian state, a total of 757 auctions were reported with 557 selling, 200 passed in and 79 on a vendor bid. A total of 91 properties were sold prior to auction, 558 were sold during auction and one after auction.
The number of private sales recorded was 414 with a total volume of $233.19 million while a total of 246 flats/apartments were auctioned with a median price of $610,000. For vacant land, nine were auctioned this weekend with a median price of $630,000.
For the month of August, more than 4,000 auctions are expected to be held and that includes an estimated 1,000 auctions next weekend. This is the first time that the 4,000 plus auctions have been held for this month.
12A Riverview Road Montmorency
Auctioneer Ashley Croall of the Darren Jones Real Estate conducted the auction before a crowd of 50 on a lovely sunny Saturday afternoon here in Melbourne. There were 3 bidders during the auction and one gave an opening bid of $490,000. The property was on the market at $560,000. It was eventually sold at $627,000.
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?
By Wendy Chamberlain
Copyright 2015 | 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
