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Weekly Auction Clearance and Sales Results – 07 September 2019 Melbourne

  • Number of auctions approaching the amount of the same time last year as Spring season is close
  • Auction clearance stands robust above 60% and 70% for the 17th and 8th consecutive weeks respectively, with 77%, 74%, and 79% from all three sources
  • Auction clearance, private sales and house price data support the claim of the turnaround of Australian Property Market, however continuously weakening economy and household spending may drag the market rebound and affect its growth strength
  • GDP data released from ABS last Wednesday showed 0.5% growth over the 2nd Quarter of 2019 and 1.4% over last 12 months, the slowest growing rate since GFC 2008
  • Weak house and living expending for Australian households due to weak economy
  • Building Approvals and construction works done continue falling
Weekly Auction Clearance and Sales Results Melbourne

REIV

  • 77% Clearance rate of 549 Auctions
  • 77% Clearance rate of 695 auctions held last week
  • 63% Clearance rate of 799 auctions held this time last year
  • Detail
    • 352 Sold at Auction
    • 73 Sold before Auction
    • 0 Sold after Auction
    • 151 Private Sales
    • 124 Passed In
    • 40 Passed in Vendor Bid
    • 10 Withdrawn
    • 20 Postponed
    • 163 No Results
    • 77% Clearance for Houses
    • 78% Clearance for Units
    • $411M Total Auction Volume
    • $105M Total Private Sales Volume
Auction and Private Sales Results Highlights - Victoria - 07 September 2019

Domain

  • 74% Clearance
  • 54% this time last year
  • Detail
    • 704 Listed Auctions
    • 531 Reported Auctions
    • 411 Sold
    • 21 Withdrawn
    • 120 Passed In
    • $880,500 Median
    • $338.2M Total Volume

Realestate

  • 79% Clearance rate for 509 Auction Results
  • Detail
    • 693 Auction scheduled
    • 393 Sold at Auction
    • 8 Withdrawn
    • 5 Sold prior to Auction
    • 101 Passed In
    • 2 Sold after Auction
  • 858 Private Sales

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