The week ending 12th September delivered a clearance rate of 95% from the 148 auctions reported for the period (based on REIV data). At the same time last year, there were just 7 auctions reported.
141 homes sold at auction last week and another 62 sold prior to auction, with 7 passed in. 69 properties were withdrawn from sale and 262 auctions were postponed.
Domain’s Melissa Heagney reported on the weekend about a property in Bonbeach purchased sight unseen. Melbourne’s real estate market is increasingly seeing more buyers purchasing homes without viewing them thanks to the extended sixth lockdown. In particular, this trend is higher in homes which are a complete gut out renovation or one which needs to be demolished.
It is interesting how the property market adapts!
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