Blogs

Melbourne saw a substantial increase in scheduled volumes by week ending October 25, 2020 with 188 homes taken to auction, up on the 59 auctions last week and the largest number of auctions in two months. Of the 143 results collected so far, 93 were successful and 14 were withdrawn, equating to a preliminary clearance rate of 65% and a withdrawal rate of 10%. Of the sold results collected, 27% sold prior to the scheduled auction event, which was much lower than the recent trend where a high proportion of auctions have been selling prior to the auction being held rather than under the hammer. One year ago, 915 Melbourne homes were auctioned with 73.3% selling.