Auctions return to trend after Easter

Auctions return to trend after Easter

by 0 comments

Staff Reporter

Auction clearance rates in Sydney and Melbourne performed on trend over the weekend.

According to Australian Property Monitors (APM) data, Sydney recorded a residential clearance rate of 69.0 per cent while Melbourne achieved a 64.3 per cent clearance rate.

Enzo Raimondo, CEO of the Real Estate Institute of Victoria (REIV), believed the results were a good indicator that growth will continue during the year.

“The Melbourne residential auction market continues to perform to trend,” he said.

“The impact on sale prices will be revealed next weekend when the March quarter median prices will be released … the clearance rate in the month of March was 67 per cent from 3,187 auctions.”

CEO of the Real Estate Institute of NSW (REINSW) Tim McKibbin believes the results were expected to be subdued as consumers readjusted after the Easter break.

“The REINSW is expecting an improvement in the market next weekend as the volume of auctions will increase to around 600,” Mr McKibbin said.

Staff Reporter

Auction clearance rates in Sydney and Melbourne performed on trend over the weekend.

According to Australian Property Monitors (APM) data, Sydney recorded a residential clearance rate of 69.0 per cent while Melbourne achieved a 64.3 per cent clearance rate.

Enzo Raimondo, CEO of the Real Estate Institute of Victoria (REIV), believed the results were a good indicator that growth will continue during the year.

“The Melbourne residential auction market continues to perform to trend,” he said.

“The impact on sale prices will be revealed next weekend when the March quarter median prices will be released … the clearance rate in the month of March was 67 per cent from 3,187 auctions.”

CEO of the Real Estate Institute of NSW (REINSW) Tim McKibbin believes the results were expected to be subdued as consumers readjusted after the Easter break.

“The REINSW is expecting an improvement in the market next weekend as the volume of auctions will increase to around 600,” Mr McKibbin said.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
Marnie Seinor on structure, database DNA and connecting with her local community

There’s no such thing as an “off switch” in real estate – so says McGrath agent Marnie Seinor, who came in at number 78 in this year...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Yes
No
Depends on the group
Do you have an industry update?