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Victoria Auction Clearance Rate Update

By Jamil Allouche

An auction preview is always a fascinating insight into the property market of any given area. It was especially interesting this weekend given that on the week ending 29 September, the AFL Grand Final Weekend was scheduled.

That meant that there were far fewer auctions than normal being held around Victoria. Only 60 auctions were scheduled, as opposed to 887 auctions the previous weekend. On that weekend, there was a 78 per cent clearance rate.

The Real Estate Institute of Victoria (REIV) noted that vendors selling on the AFL Grand Final Weekend should not be concerned. While it will not publish clearance rates on such a low volume weekend, according to its analysis of previous years, selling rates won't have been affected.

As a comparator, on the same weekend last year, there was a 66 per cent clearance rate from 686 auctions.

Are you still searching for the right property in Brunswick or its surrounding suburbs? This coming weekend there are likely to be plenty of auctions being held now that the AFL Final is over, so why not head out to one?

Remember it's always a good idea to seek professional assistance from a real estate agent.

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