Melbourne's home auction market had steadied over the weekend after the decline in buyer activity. The city is able to record a 79 percent clearance rate, in contrast of last year's 76 percent on the same weekend. Though the pre- spring market started August with a solid market, this shows listings might be low leaving the consumers with fewer options.
This coming Saturday, there will be a total of 648 houses listed for auction, shy of more than a hundred houses last weekend but well ahead of last year's 528 houses on the same Saturday. High number of popular suburb houses have contributed to Melbourne's recovery. However, almost 950 homes to be put into auction will present a challenge for the city.
Properties on the south- east of Melbourne reported the highest clearance rates of the region with a result of 87.5 percent. Next is west with 80. 7 percent followed by inner east with 78.9 and north east with 77.8 percent while the north has 76.7 percent. The inner city, the lowest among the region but has better percentage than last weekend, has repoted a percentage of 74.2.
The most notable houses sold at the last weekend's auction are:
a. A five-bedroom home at 183 Church Street, Brighton, sold by Buxton for $2.64 million
b. A four-bedroom home at 44 Camperdown Street, Brighton East, sold for $2.6 million by Nick Johnstone
c. A three-bedroom house at 15 Fairmount Road, Hawthorn East, sold by Jellis Craig for $2.54 million
d. A three-bedroom property at 9 Tuxen Street, Balwyn North, sold for $2.4 million by Fletchers and;
e. A four-bedroom home at 47 Frederick Street, Balwyn, sold for $2.24 million by Ray White Blackburn.
A four- bedroom house located at 21 Haydens Road, Beaumaris was the most expensive property sold for $2.8 million by Buxton. The lowest priced house to be sold was the one bedroom home at 1/157 Buckingham Street, Richmond which is sold for $198,000 by Biggin and Scott.
