The week ending 24th July delivered a clearance rate of 94% from the 443 auctions reported across Victoria, according to REIV data.
The volume of auctions was revised down from earlier reports, owing largely to the restrictions currently in place across Melbourne. At the same time last year, 293 auctions were reported and the clearance rate was 79%.
216 homes were sold at auction and 202 sold before auction, with 25 passed in. 155 properties were withdrawn from auction.
Melbourne’s housing market remains subdued due to the current lockdown and is expected to rebound quickly once restrictions ease.
However, many opportunities exist to buy and sell online and as I explain in my latest newsletter, those in the market to buy should consider the opportunities available right now.
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.
I have extensive experience in bidding at online auctions and can help you to bid competitively for property in Melbourne under the current restrictions.
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.
To book a free 30-minute consultation, simply click here and choose a time convenient to you. Alternatively, give me a call on 03 9686 2288 to discuss how I can help.