melbourne: 10 and 11 september

A fairly slow start to the spring season last week, total sales volume only $462m. Beginning to pick up this week with an additional 100 auctions, here's the preview from REIV:


Auction preview 10 and 11 September

?Last weekend: 516 auctions, clearance rate of 55 per cent
?This weekend: 630 auctions
?This weekend last year: 673 auctions, clearance rate of 70 per cent
?This weekend 2009: 708 auctions, clearance rate of 83 per cent

Some interesting regional variations have become clear in the Melbourne auction market over the course of the year. The highest clearance rate has been recorded in the inner east where 68 per cent of homes auctioned have sold. In the inner suburbs the clearance rate is 64 per cent which is very similar to the 63 per cent in the inner south. At the other end of spectrum are the western suburbs where 50 per cent of homes auctioned have sold and the northern suburbs where 53 per cent have sold.


It?s important to consider that results within these areas will vary as it will have over the course of the year.