A 70 percent clearance rate was achieved over the weekend during auctions in Melbourne. A total of 1,479 properties were listed and 1,169 reported. Of that figure, 837 properties were sold with a total sales volume of more than $614 million.
In the state of Victoria, the weekend auction recorded a 70 percent clearance rate with a total of 1,663 auctions scheduled. Sold prior to auction were 193 properties, 418 were passed in, 803 sold during auction and 13 sold after auction.
According to propertydata.com.au, there were 383 private sales over the weekend. The total figure for houses auctioned was 917 while a total of 422 was recorded for flats/apartments and 14 for vacant land.
Next weekend, the Real Estate Institute of Victoria (REIV) is expecting some 550 auctions. This figure is considered the highest for any Melbourne Cup Day weekend and more than double the total number of auctions during the same period last year.
70 Iffla Street South Melbourne
In Melbourne, auctioneer Geoff Cayzer conducted two auctions last Saturday. The quote for this property on Iffla Street was $950,000-$1 million. The auction opened on vendor bid of $950,000 with a crowd of 110 in attendance.
The property was on the market at $1,050,000 and sold for $1,195,000.
6 Emerald Street South Melbourne
The auction for this property on Emerald Street opened on vendor bid of $1.1 million. It was on the market at $1,205,000 and sold for $1,385,000.
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
