Auction Clearance Rates – 27th & 28th March

The clearance rate this week was 84%, a result in line with the year to date clearance rate before today of 86 per cent, well above this weekend last year when it was 77 per cent and the corresponding weekend in 2008 when it was 63 per cent.

It is clear that as a result of a healthy economy and a stock shortage that the Melbourne residential market is very strong and it has not recorded such a demand level before Easter in recent times.

There were 1004 auctions reported this week with a total of 842 selling and 162 being passed in, 76 of those passed in on a vendors bid.

Next week is Easter and under 50 auctions are expected.