This is the third weekend in a row with over 1000 auctions planned and the biggest of the year - till next weekend.
The clearance rate has remained stable this weekend, confirming that the drop in demand from the latest interest rate rise was not temporary. This will now impact stock levels in 2011.
There was a total of 937 auctions reported today, with a total of 561 selling and 376 passed in, 237 of those on a vendors bid.The clearance rate for this weekend was 60%.
Its interesting to note that 2010 will see the most auctions ever held in one year in Melbourne, surpassing the previous high in 1999. This weekend last year saw 913 auctions and a clearance rate of 82 per cent.