On a weekend that promised a swarm of lucky runaway auctions due to the compounding number 8’s in the day and month of the year, Melbourne has reclaimed its status as Australia’s top auction market after taking over the reins from Sydney after 14 consecutive weeks at the top.
APM reported that Melbourne recorded a clearance rate of 79.5 per cent last weekend, compared to 70.8 per cent at the same time last year.
There were 174 reported sales between $1M to $2M, 24 sales between $2M to $3M, 2 sales between $3M to $4M and 2 reported sales above $4M.
Across Australia, the clearance rate climbed from 71.3 per cent to 77.0 per cent, even on higher than typical stock numbers showing buyers are still out in force.
Jellis Craig Hawthorn achieved Melbourne’s best result, selling a three-bedroom house in Kew for $4.33 million.