Global Power | Local Knowledge | Uniquely Personal

Melbourne clearance rates rise again

Melbourne has seen its weekend auction clearance rate exceed 70 per cent again.

Although more than 1,000 properties went under the hammer this weekend, Melbourne still managed to achieve a clearance rate of above 70 per cent.

RP Data measured this as the third largest auction weekend of the year for the city and the seventh one with more than 1,000 properties listed, recording 1,119 properties going up for bidding. It also noted a clearance rate of 70.3 per cent.

Meanwhile, the Real Estate Institute of Victoria (REIV) noted a clearance rate of 71 per cent from 1,048 properties. This is an increase from last weekend's results where REIV recorded a clearance rate of 68 per cent.

RP Data suggested that despite the popularity of the weekend auctions, property prices have reduced in Melbourne. Last month, the median house price fell by 0.5 per cent.

"As the Melbourne market heads to the end of the year it appears that buyers won’t be confronted by price rises of any significance."

Posted by Steve Douglas

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact

Subscribe Now