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Auction market recovers from winter cold

Signs of new life have begun to show in the auction market across the nation, as winter struggles to maintain its cold grip.

Melbourne’s mid-winter auction market has yet again recorded another solid result for sellers at the weekend with a 74.3 per cent clearance rate - the highest weekend result recorded so far over July. “Auction sales levels in Melbourne are holding firm over winter with consistent results being reported each weekend,” Dr Wilson said.

“Auction clearance rates have averaged 73.2 per cent since the Queen’s Birthday weekend, compared to 67.1 per cent over the same period a year ago,” he added.

Dr Wilson stated Melbourne’s inner-city suburban region produced the best result at the weekend with a strong auction clearance rate of 87.9 per cent.

“This was closely followed by the north with 87.8 per cent, the inner east with 84.6 per cent, the north east with 72.1 per cent, the west with 71.4 per cent and the inner south with an auction clearance rate at the weekend of 70.7 per cent,” he added.

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