Week Ending 7 June
(Queens Birthday Long Weekend)
Ray White Victoria recorded a clearance rate of 52% this week from 27 auctions reported. Although it was a long weekend, auction clearance rates are relative to properties auctioned, which indicates the first significant shift for 2014.
Victoria clearance:
67% from 227 auctions (source: REIV)
Note:
2014 trending strongly… One in every four homes sold so far this year have been sold at auction (compared to one in five this time last year).
Auction Highlight:
Another solid in-room auction event for Ray White Ferntree Gully on Thursday 5th June, selling 4 from 5 on the night. Well done also to Ray White Bundoora for 100% clearance in their core area on Saturday.
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By Nerida Conisbee · Chief Economist For most of the past year, cheaper homes were outperforming expensive ones across every capital city. The Budget landed in May. By September, the relationship between the two had completely reversed. For much of the past year, Australia’s more affordable properties have been outperforming the expensive end of the market. That … […]