'Seasonal bounce': Sydney, Melbourne auction clearance rates up
Date: 18 Feb 19
Sydney and Melbourne's auction clearance rates picked up on the weekend, fueled by hopes of reduced interest rates and relief that the banks are unlikely to further tighten lending after the results of the banking royal commission.
[...]
Melbourne
Melbourne was host to 657 auctions this week with preliminary results showing a clearance rate of 54.2 per cent, increasing from last week when the final clearance rate was recorded at 52.4 per cent across 350 auctions.
Over the same week last year, the auction clearance rate was significantly higher with 69.8 per cent of the 932 auctions returning a successful result.
"St Kilda was the star performer with a 100 per cent clearance rate from five auctions; four of the successful sales were apartments," Real Estate Institute of Victoria (REIV) CEO Gil King told WILLIAMS MEDIA.
"All three auction listings in Ascot Vale also sold under the hammer last weekend.”
Click here to read the full article on The Real Estate Conversation.