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Melbourne Weekly Auction Clearance – 09 November 2019

  • Number of auctions back to normal level
  • Auction clearance, though , stands robust above 60% for the 26th consecutive weeks, with 72%, 70%, and 75% from all three sources. All above 70% for the 17th consecutive weeks but two of which are on the edge of 70% mark
  • This week was called by media as “Super Saturday” with about ,300 auctions held across the nation. Good results indicate Melbourne and Sydney property price on course towards new record high in the next 6 months. Canberra and Hobart area already at new peaks
  • However, recently revealed Australian economy data may give a story from different side. Unemployment rate was 5.3%, 0.1% higher than expected with 19,000 job losses. Australian dollar dives to 0.6812 by the press early today, the lowest point since 15th October
  • Economy continues experiencing downturn press with the emphasis on retails and salary level. This put more string on people’s wallets on daily spending as well as plans for new property purchases
  • Further interest cut by RBA is now on horizon, to boost economy and improve employment, but may also create anther house price booming in 2020
Weekly Auction Clearance and Sales Results Melbourne

REIV

  • 72% Clearance rate of 918 Auctions
  • 74% Clearance rate of 185 auctions held last week
  • 50% Clearance rate of 1007 auctions held this time last year
  • Detail
    • 522 Sold at Auction
    • 141 Sold before Auction
    • 2 Sold after Auction
    • 121 Private Sales
    • 253 Passed In
    • 96 Passed in Vendor Bid
    • 63 Withdrawn
    • 26 Postponed
    • 63 No Results
    • 74% Clearance for Houses
    • 70% Clearance for Units
    • $592M Total Auction Volume
    • $103M Total Private Sales Volume
Auction and Private Sales Results Highlights - Victoria - 09 November 2019

Domain

  • 70% Clearance
  • 48% this time last year
  • Detail
    • 959 Listed Auctions
    • 779 Reported Auctions
    • 562 Sold
    • 29 Withdrawn
    • 217 Passed In
    • $854,250 Median
    • $419.1M Total Volume

Realestate

  • 75% Clearance rate for 722 Auction Results
  • Detail
    • 968 Auction scheduled
    • 540 Sold at Auction
    • 11 Withdrawn
    • 1 Sold prior to Auction
    • 169 Passed In
    • 1 Sold after Auction
  • 1058 Private Sales

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