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SOLD! – at Auction

17 Jun 2016 Melton 0 Comment

Auctions, some people are not so tempted when it comes to a property that is for sale by auction, but selling by auction especially in Victoria is becoming increasingly popular as of late and it could be due to the current Melbourne market.

It has been stated that this weekend in Victoria, a record number of auctions to take place have been recorded. For the June month in Victoria, property going to auction will be at its highest ever for June. Over 1000 homes will go to auction this weekend, the next highest recorded auction number in June was back in 2010 on the 19th of June.


So what areas will these auctions be taking place in?

Melbourne’s West – 160

Inner South – 148

Inner City – 132

North East – 119

Outer East – 106

North – 86

South East – 63

In Melbourne, Glen Waverley has the most scheduled with 21 homes going to auction, following is Reservoir with 17, Mount Waverley – 16, and 15 auctions in other various suburbs like St Kilda, Preston, Glen Iris, and East Bentleigh.

Quite expectedly, last weekend (Queen’s Birthday Long Weekend) saw Melbourne’s lowest auction clearance this year to date at a percent of 65.8 with only 265 homes hitting the market at auction. This figure although is a yearly record low, is higher than Queens Birthday Long Weekend last year which was 241, (week earlier).

Melbourne’s property market is continuing to move on quite strongly and the driving force is predominantly due to the current low interest rates and high investor activity in the Melbourne market.

Here at the Professionals Ryder Real Estate Melton we currently have for sale by auction 4 properties. To view these simply click on our website, go to the buy tab and browse through: www.ryderrealestate.com.au


Source – domain.com.au

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