Melbourne Property Sales Results / Auction Results 6/5/13

Melbourne Property Sales Results for Saturday 4th & Sunday 5th May 2013

A clearance rate of 71 per cent was recorded this weekend compared to 69 per cent last weekend and 57 per cent this weekend last year.

The number of auctions is a useful indicator of confidence and the strength of the market. A comparison with the previous 5 years shows that the number auctions scheduled until the end of May together with  the total auctions held to date has increased when compared to the same time in 2009 and 2012  and only about 500 fewer than in 2010 when the residential property market was very strong.

There were 670 auctions reported to the REIV this weekend, with 475 selling and 195 being passed in, 121 of those on a vendor bid.

Next weekend the REIV expects around 730 auctions.

Enzo Raimondo

CEO REIV

S Sold at Auction: 399

SB Sold before Auction: 74

SA Sold after Auction: 2

Passed in: 195

Passed in on vendor's bid: 121

Clearance rate: 71%

TOTAL AUCTIONS

This week: 670

Yesterday: 19

Last Sunday: 23

This weekend last month: 468

This weekend last year: 562

CLEARANCE RATES:

Weekend: 71%

Yesterday: 74%

Last Sunday: 61%

This weekend last month: 63%

This weekend last year: 57%

Source:  http://www.reiv.com.au/en/Property-Research