Melbourne recorded yet another solid auction clearance rate at the weekend with this year’s local market revival clearly remaining on track.
Melbourne’s weekend rate of 65.8% was higher than the previous weekend’s holiday impacted 63.7% and again well above the 59.4% recorded over the same weekend last year.
Melbourne has now recorded clearance rates above 60% for six of the past 7 weekends with the underlying trend continuing to rise.
Auction listings however remain subdued with just 643 homes reported on Saturday which although predictably higher than the previous weekends 173 was again well below the 852 reported over the same weekend last year.
Melbourne reported a median auction price of $760,000 at the weekend which was lower than the same weekend last year’s $800,000.
All Melbourne regions reported clearance rates above 60% at the weekend with the exception of the West, with the Outer East and North top performers with 73.9% and 72.1% respectively.
Recent rising buyer activity is set to be maintained during winter although choices will as usual be restricted until the typical spring seller revival emerges.