Melbourne Weekend Auction Results | 17th April 2021

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The week ending 17th April delivered strong results in Victoria’s auction market, with a clearance rate of 86% according to REIV data. 907 auctions were reported during the period.

At the same time last year, a mere 149 auctions were reported while the state was dealing with the first wave of the pandemic, with a clearance rate of 75% for that period.

613 homes were sold at auction last week, while another 165 sold prior to auction, with 129 homes passed in. 29 properties were withdrawn from sale.

Wendy Chamberlain advocates on behalf of home buyers at an auction in Melbourne

A defining feature of the real estate market across our capital cities this year has been a surge in buyer demand combined with a limited supply of housing, resulting in strong bidding for available properties. Just last week, the median house price in Victoria exceeded $1m for the first time, with the REIV reporting that Melbourne metropolitan houses have reached a median price of $1,004,500.

CoreLogic also released it’s Quarterly Auction Market Review last week, which reveals that “Australia’s combined capital cities clearance rate reached 80.0% over the first quarter of 2021” – an increase of almost 20% on the March quarter of 2020.

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.

Ask about our Home Buyer Search and Acquisition Service, where we do all of the legwork on your behalf to MAKE IT EASY to secure your new home.

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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 Chamberlain Property Advocates