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New Real Estate Institute of Victoria data shows 1,036 auctions were held in regional Victoria in the year to September 30. Areas around Ballarat and Geelong recorded the highest auction volumes.
The south Geelong suburb of Belmont recorded one of the largest increases in auction numbers, with 119 auctions held in 2016, compared to 87 for the same period last year. Of the homes that went to auction in Belmont, 92 sold – a 37 per cent increase from 2015 figures.
Auction volumes also increased in nearby Highton, where 82 auctions were held, up from 76 for the same period last year.
Vendors who auctioned their homes in East Geelong and Herne Hill also reaped successful returns. In East Geelong, 52 homes went under the hammer, with 40 selling, a clearance rate of 77 per cent. In Herne Hill, 25 homes were auctioned, with 20 selling, a clearance rate of 80 per cent.
In another region of Victoria, Ballarat Central held 26 auctions and 12 properties were sold, up from just five auction sales last year.
Auction volumes also increased in the Gippsland town of Sale, up 41 per cent to 24 auctions; Echuca, up 13 per cent to 76 auctions; Morwell, up 50 per cent to 15 auctions; and Horsham, up 15 per cent to 15 auctions.
The percentages seen in regional Victoria were replicated in Melbourne’s outer suburbs where auction levels continued to grow.
Hoppers Crossing, in Melbourne’s west, and Mornington, in the south-east, recorded more than 100 auction sales this year for the first time.
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