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Melbourne Weekly Auction Clearance – 15 Feb 2020

46 sqm garage in Albert Park sold for $645,000
46 sqm garage in Albert Park sold for $645,000
  • Both Auction Volumes and Clearance continue climbing up.
  • The volume was much higher than previous week but still lower than the same time last year. Combining with less number of listings, the market will get hotter in this Autumn season.
  • This week’s auction clearance was higher and firmly stood above 70%, 81%, 77%, and 79% from all three sources.
  • A 46 sqm garage in Albert park was sold at $645,500. 7 bidders with 65 bids pushed it $215,500 above $430,000 reserve. The 90-year old owner bought it for $8,000 in 1980s. The $14,000 per sqm price is also well above the area’s $10,000 per sqm price mark.
  • With the government’s 5% deposit schemes support and positive lending criteria, A recent survey shows more than before first home buyers are now considering to purchase their first home within 5 years.
Weekly Auction Clearance and Sales Results Melbourne

Melbourne Weekly Auction Clearance – 15 Feb 2020

REIV

  • 81% Clearance rate of 486 Auctions
  • 76% Clearance rate of 391 auctions held last week
  • 60% Clearance rate of 551 auctions held this time last year
  • Detail
    • 316 Sold at Auction
    • 79 Sold before Auction
    • 0 Sold after Auction
    • 108 Private Sales
    • 91 Passed In
    • 46 Passed in Vendor Bid
    • 5 Withdrawn
    • 6 Postponed
    • 53 No Results
    • 82% Clearance for Houses
    • 81% Clearance for Units
    • $375M Total Auction Volume
    • $74M Total Private Sales Volume
Auction and Private Sales Results Highlights - Victoria - 15 February 2020

Domain

  • 77% Clearance
  • 55% this time last year
  • Detail
    • 649 Listed Auctions
    • 475 Reported Auctions
    • 374 Sold
    • 13 Withdrawn
    • 101 Passed In
    • $827,000 Median
    • $297.6M Total Volume

Realestate

  • 79% Clearance rate for 421 Auction Results
  • Detail
    • 635 Auction scheduled
    • 323 Sold at Auction
    • 1 Withdrawn
    • 5 Sold prior to Auction
    • 86 Passed In
    • 6 Sold after Auction
  • 935 Private Sales

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