0421 443 470
A tired, century-old Footscray house soared more than $80,000 above reserve and a Flemington pad with a pool raked in a $143,500 bonus for its sellers as agents declared Melbourne’s auction market has “bounced back”.
Melbourne’s auction market appears to have “bounced back” from a miserable end to 2018, with agents reporting strong bidder numbers and sales well above reserve.
The city’s clearance rate has also risen above 50 per cent for consecutive weeks, with CoreLogic recording a 54.2 per cent preliminary figure from 657 auctions last week and 52.4 per cent from 350 the week before.
While the market is still well behind where it was a year ago — when 69.8 per cent of 932 auctions resulted in sales — it has improved from a dire spring dubbed the worst since the 2008 global financial crisis, with nine straight weeks of sub-50 per cent clearance rates.
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