• Results started picking up as it came into the second auction week in 2020, both in volume and clearance.
  • The volume stand on similar level as the same time last year, whilst the auction clearance was much higher and back to 70% and above, 80%, 74%, and 78% from all three sources.
  • Federal’s 5% First Home Loan Deposits schemes had 3,000 potential buyers registered in January. The remaining 7,000 slots was released on 1 February 2020. To further support first home buyers, an additional 10,000 will be released on 1 July 2020.
  • Total of 20,000 5% deposits scheme benefited buyers and potential further interest cut by the end of this financial, will provide positive stimulus to the property market.
  • However, global economies are weak and may further been affected by recent coronavirus break out. All of which will impose uncertainty on the property market in 2020.
Weekly Auction Clearance and Sales Results Melbourne

Melbourne Weekly Auction Clearance – 08 Feb 2020

REIV

  • 80% Clearance rate of 302 Auctions
  • 69% Clearance rate of 202 auctions held last week
  • 55% Clearance rate of 310 auctions held this time last year
  • Detail
    • 187 Sold at Auction
    • 56 Sold before Auction
    • 0 Sold after Auction
    • 184 Private Sales
    • 59 Passed In
    • 29 Passed in Vendor Bid
    • 12 Withdrawn
    • 7 Postponed
    • 125 No Results
    • 82% Clearance for Houses
    • 77% Clearance for Units
    • $200M Total Auction Volume
    • $103M Total Private Sales Volume
Auction and Private Sales Results Highlights - Victoria - 08 February 2020

Domain

  • 74% Clearance
  • 56% this time last year
  • Detail
    • 381 Listed Auctions
    • 232 Reported Auctions
    • 181 Sold
    • 11 Withdrawn
    • 51 Passed In
    • $760,000 Median
    • $131.1M Total Volume

Realestate

  • 78% Clearance rate for 152 Auction Results
  • Detail
    • 406 Auction scheduled
    • 208 Sold at Auction
    • 6 Withdrawn
    • 2 Sold prior to Auction
    • 55 Passed In
    • 5 Sold after Auction
  • 893 Private Sales

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