Melbourne's auction market appeared to rebound today, but the outcome remains in doubt due to a large number of missing results.
The Real Estate Institute of Victoria said the clearance rate was 62 per cent for the 487 auction results disclosed to the group.
"The increase in the clearance rate today is a positive sign that confidence in the residential market may be starting to improve," REIV spokesman Robert Larocca said.
Advertisement: Story continues below
The performance appears to be an improvement on the clearance rate of 54 per cent seen last weekend when 397 properties went under the hammer.
However, the REIV is likely to downgrade today's clearance as they collect the 98 results not initially reported by estate agents. It's the worst reporting performance recorded this year.
