• Number of auctions is picking up as the spring season arrived. The figure is comparable to previous year’s one
  • Auction clearance stands robust above 60% and 70% for the 22th and 13th consecutive weeks respectively, with 77%, 74%, and 75% from all three sources
  • Banks refused to pass RBA’s interest cut in full
  • RBA expects future cuts coming in Q4 2019 or Q1 2020, or even both
Weekly Auction Clearance and Sales Results Melbourne

REIV

  • 77% Clearance rate of 708 Auctions
  • 73% Clearance rate of 675 auctions held last week
  • 55% Clearance rate of 807 auctions held this time last year
  • Detail
    • 456 Sold at Auction
    • 88 Sold before Auction
    • 0 Sold after Auction
    • 147 Private Sales
    • 164 Passed In
    • 67 Passed in Vendor Bid
    • 15 Withdrawn
    • 23 Postponed
    • 220 No Results
    • 78% Clearance for Houses
    • 77% Clearance for Units
    • $1,283M Total Auction Volume (IL Visual considers this figure as incorrect, please take it at your own risk)
    • $88M Total Private Sales Volume
Auction-and-Private-Sales-Results-Highlights-Victoria-12-October-2019

Domain

  • 74% Clearance
  • 46% this time last year
  • Detail
    • 850 Listed Auctions
    • 598 Reported Auctions
    • 467 Sold
    • 29 Withdrawn
    • 131 Passed In
    • $855,000 Median
    • $356.1M Total Volume

Realestate

  • 75% Clearance rate for 599 Auction Results
  • Detail
    • 879 Auction scheduled
    • 430 Sold at Auction
    • 8 Withdrawn
    • 10 Sold prior to Auction
    • 144 Passed In
    • 7 Sold after Auction
  • 903 Private Sales
Banks not pass the RBA’s rate cut in full
  • To boost inflation figure and support the short-term economic development, RBA decided to cut the interest rate again by 25 basis in its October meeting
  • However banks refused to pass the cut in full to customers, with BIG FOUR of Westpac 0.15, ANZ 0.14, NAB 0.15 and Commonwealth 0.13
  • The global and Australia economies continue being weak, giving RBA the possibility of future cuts, by the end of this year, early next year or even both

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