- 276 Auctions were reported last week, up from 105 the previous week
- 83 per cent clearance – last week was 82
- Auction value $204m
- Balwyn saw top sale - $2.56m for 2 Dundee St
Data released by the Real Estate Institute of Victoria (REIV) shows the number of auctions reported last week has more than doubled with the clearance rate high at 83 per cent.
The week ending January 31 saw 276 auctions reported representing a sharp increase compared to the week before which saw only 105 auctions. Additionally, this is higher than the same week last year when 203 auctions were reported.
The 83 per cent clearance rate is slightly higher than last weeks 82 per cent but most notably is higher than this time last year when the rate was 69 per cent.
The total auction volume hit a cool $204 million with 51 properties being sold before the auction itself.
The median price for houses auctioned was $917k at 2 Dundee Street, a 948sqm four-by-two in leafy Balwyn attracting the top sale of the week for $2,560,000
28 Ashleigh Crescent in the northern suburb of Meadow Heights attracted the cheapest auction sale at $411,000.
In terms of apartments, there were 88 total auctions with a median of $694,000. 1A Wallace CR in bayside Beaumaris was the top apartment at $1,260,000. The cheapest was 9/21 Rose Street in Box Hill at $302,000.