Melbourne Auction Clearance Rates Hits 90%

Updated: Mar 29, 2020

Surprising results isn't it? Or is it?

In the midst of one of the worse virus pandemic, Melbourne property auction clearance rates hits 90%.

This is 10% points higher than a "good-time" average of 80%.

So, what's happening? Is this the real story?

While real estate agents would want you you believe it's good time to sell, be vary...

Only just 363 auctions were held. This is almost two-thirds less than the week before. And it is less than half of what we're sold this time last year, when everyone was not buying.

That's not all gloom though. One of the reasons why auctions held was low, was because many sales had been pulled forward, and held during the weekdays, or have been converted to private sales.

And if you've been holding your breath, expecting prices to fall, don't. Breath now.