Vic proves resilient with strong auction results

Vic proves resilient with strong auction results

15 April 2013 by Staff Reporter 0 comments

Staff Reporter

Auction clearance rates in Melbourne suggest the Victorian capital's property market is improving.

The residential clearance rate of Melbourne rose 8.4 per cent from last week to 71.7 per cent, which Enzo Raimondo, CEO of the Real Estate Institute of Victoria (REIV), believes reflects the resilience of the past few months.

“The REIV released the March quarter median prices this weekend, which show the strongest first quarter for over 10 years,” Mr Raimondo said. “This weekend's results are a further indication of the healthy state of the market.”

According to Australian Property Monitors (APM), Sydney also performed well, recording a clearance rate of 73 per cent, up from 67.6 per cent last week.

Adelaide managed a clearance rate of 60 per cent, however according to propertydata.com, there were only 35 reported auctions.

Staff Reporter

Auction clearance rates in Melbourne suggest the Victorian capital's property market is improving.

The residential clearance rate of Melbourne rose 8.4 per cent from last week to 71.7 per cent, which Enzo Raimondo, CEO of the Real Estate Institute of Victoria (REIV), believes reflects the resilience of the past few months.

“The REIV released the March quarter median prices this weekend, which show the strongest first quarter for over 10 years,” Mr Raimondo said. “This weekend's results are a further indication of the healthy state of the market.”

According to Australian Property Monitors (APM), Sydney also performed well, recording a clearance rate of 73 per cent, up from 67.6 per cent last week.

Adelaide managed a clearance rate of 60 per cent, however according to propertydata.com, there were only 35 reported auctions.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, 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
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?