The number of auctions held in Melbourne always increases at this time of year and last weekend didn’t disappoint with 903 auctions listed for 11th October 2014. As this was published, 711 results have been reported and 529 properties have been sold, giving a clearance rate of 74%.
According to the REIV, the September quarter has actually seen 8,165 auctions in Melbourne, which is a new record – and about 15% more than for the same period in 2013.
Glen Iris had a particularly busy weekend with 11 auctions held and 8 of the properties successfully sold on the day.
The biggest sale in the suburb was a 4 bedroom home at 19 Ashburton Road, which sold for $1.91m. Some of the more modest sales included a 1 bedroom unit at 12/12 Belmont Avenue which sold for $325,000 and a 2 bedroom unit at 2/24 White Street, which sold for $695,000.
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