Melbourne recorded its lowest non-holiday weekend auction result for nearly 4 months on Saturday although the market remains generally in favour of sellers.
Melbourne recorded a weekend clearance rate of 71.5% which was well below the previous weekends 77.6% but higher than the 41.2% recorded over the same weekend last year.
1013 homes were reported auctioned on Saturday which was lower than the previous weekend’s 1129 but higher than the 918 listed over the same weekend last year.
Melbourne recorded a weekend median auction price of $872,000 which was lower than the previous weekend’s $890,500 but higher than the same weekend last year’s $800,000.
Melbourne’s South East was the top weekend regional performer with a clearance rate at 80.0% followed by the Outer East at 76.7% and Inner South with 75.4%.
With auction volumes now tracking consistently at the levels of a year ago, Melbourne’s clearance rates have faded over the past month, reflecting the typical pattern of the late spring market.