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Weekly Auction Clearance and Sales Results – 06 July 2019 Melbourne

  • Number of auctions is less compared to both previous week and the same week last year
  • Auction clearance stands robust above 60% for the eighth consecutive weeks and now tightly around 70% mark, with 72%, 68%, and 74% from all three sources
  • In last week RBA applied the second interest rate cut straight after the June 25 basis point cut, to a new historic record low of 1 percent, with more cuts expected by February 2020
  • APRA finalized mortgage lending reforms and removed its 7 percent interest floor for mortgage serviceability assessments
  • Property market activity is mild with less auction and listing numbers, which also as a result of the winter holiday season
  • With record low interest rate, softened lending criteria and further interest cut expectation, it will be interesting to see how the property market will respond when spring comes
Weekly Auction Clearance and Sales Results Melbourne

REIV

  • 72% Clearance rate of 290 Auctions
  • 73% Clearance rate of 463 auctions held last week
  • 62% Clearance rate of 526 auctions held this time last year
  • Detail
    • 176 Sold at Auction
    • 33 Sold before Auction
    • 0 Sold after Auction
    • 142 Private Sales
    • 81 Passed In
    • 33 Passed in Vendor Bid
    • 12 Withdrawn
    • 12 Postponed
    • 78 No Results
    • 74% Clearance for Houses
    • 68% Clearance for Units
    • $163M Total Auction Volume
    • $74M Total Private Sales Volume
Auction and Private Sales Results Highlights - Victoria - 06 July 2019

Domain

  • 68% Clearance
  • Detail
    • 338 Listed Auctions
    • 237 Reported Auctions
    • 170 Sold
    • 13 Withdrawn
    • 67 Passed In
    • $800,000 Median
    • $122.7M Total Volume

Realestate

  • 74% Clearance rate for 264 Auction Results
  • Detail
    • 372 Auction scheduled
    • 191 Sold at Auction
    • 3 Withdrawn
    • 1 Sold prior to Auction
    • 66 Passed In
    • 3 Sold after Auction
  • 884 Private Sales

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