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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Australia’s housing market shows two-speed performance. Major east-coast capitals stall while Perth, Adelaide and regional areas continue climbing. Supply shortages fuel outperformers as auction competition cools nationwide.