Victoria’s solid auction market should continue over the next two months, with higher numbers expected in May.
Last weekend’s auction bonanza has broken the record for the highest number of homes sold in a single weekend. The biggest auction weekend of the year saw 1,667 auctions held with a record 1,004 sold under the hammer.
When private sales are included, 1,230 homes were sold last weekend – another one for the record books.
REIV President Geoff White said that this was well ahead of the previous record weekend for sales – 2526 October two years ago –when 969 homes were sold at auction, and, including private sales, a total of 1,197 homes sold. “It’s a remarkable record, and has been driven by the two long weekends – Labour Day and Easter – with only a single weekend for auctions to take place in between,” he said.
A solid clearance rate of 74 per cent indicated continuing strong buyer demand. Victoria’s solid auction market should continue over the next two months, with higher numbers expected in May.
Meanwhile, the market will be lower this weekend, due to the Easter holiday, with about 50 auctions held, followed by more than 500 auctions the following weekend.