The Melbourne auction market bounced back from last weekend’s Cup pause with a predictable surge in listings.
Melbourne recorded a weekend clearance rate of 73.3% which was higher than the previous weekends 68.8% and the 47.1% recorded over the same weekend last year.
Underlying auction listings are gradually approaching last year’s totals at the same time, with sellers now keen to take advantage of strong market conditions before year’s end 957 homes were reported auctioned on Saturday which was higher than the previous weekend’s 174 and similar to the 996 listed over the same weekend last year Melbourne recorded a weekend median auction price of $854,250 which was higher again than the previous weekend’s $790,250 and the same weekend last year’s $792,500.
Melbourne’s Outer East was yet again top weekend regional performer with a clearance rate at 81.2% followed by the North East 78.7% and Inner South with 78.6%.
Higher auction numbers over coming weekends will test Melbourne’s robust housing market that has so far this spring made every post a winner.