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Auction expects high numbers for Victorian suburbs

On Mar 30 2012
Tagged as:
  • VIC


Buying a house through auction is quite a common method for residential property seekers in ...

Buying a house through auction is quite a common method for residential property seekers in Australia, with one of the main reasons being an abundance of options in one place.

Property buyers in the Victorian region in particular will likely have a lot to choose from this weekend, according to figures from the Real Estate Institute of Victoria.

Expecting roughly 1,000 properties up for sale, this weekend's (March 31 - April 1) auction represents the most choice purchasers have had since the middle of December in 2010.

The event may see higher clearing rates than the auctions that took place during the same week this time last year - 808 properties were up for sale and had a clearance rate of 60 per cent

The highest numbers of real estate options will be in the suburbs of Prahran with 21, followed by 17 in Brighton, Camberwell, Essendon, Kew and Northcote.

Although the volume has fluctuated greatly, the demand has remained consistent - the last five weekends have returned clearance rates between 58 and 61 per cent.

Those seeking property in Victoria may just find what they are looking for at this weekend's auction.



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