Home News Melbourne sees auction surge

Melbourne sees auction surge

Font size :
Nila Sweeney

By Robert Carry

The number of Melbourne properties to go under the hammer last week leapt to 526 from 406 in the week ending 8 October, new statistics have shown.

The clearance rate was also up slightly in the city, rising to 79.7% from 76.1% the previous week.

According to RP Data figures released today, there was also a significant increase in the clearance rate in Canberra - rising to 89.4% last week from 78.9% the previous week.

Perth showed a slight increase from 37.5% to 38.7% with reported auctions in the Western Australia capital jumping to 31 from 24 over the same period.

Adelaide also enjoyed a moderate gain - going from 61.3% to 63.3% although the number of reported auctions dipped slightly from 60 to 62.

The Northern Territory however, saw clearance rates halve from 80% to 40%. However, this was based on just 15 reported auction sales last week compared to 5 the previous week.

Brisbane increased slightly with clearance rates going to 49% from 47%, Sydney dropped off to 72.6% from 73.5% and Canberra increased from 78.9% to 89.4%. Tasmania saw a slight decline, going from 46.7% to match the Northern Territory's clearance rate of 40%.

Melbourne sees auction surge

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

Why choosing the right mortgage is hard for first-home buyers Why choosing the right mortgage is hard for first-home buyers

Many feel overwhelmed by the sheer range of products and interest rates on offer, a new survey reveals Read more

Mortgage applications drop in second quarter Mortgage applications drop in second quarter This marks the “beginning” of a downward trend, says Equifax executive ... Read more

To break monopoly, many smaller lenders could become banks To break monopoly, many smaller lenders could become banks The proposed change could break the Big Four’s monopoly over the mortgage market and help families get cheaper home loan rates ... Read more

Borrowing against the home: A strategy to pay for aged care Borrowing against the home: A strategy to pay for aged care Such debts can generally be divided into long-term and short-term loans ... Read more

More mortgage news and articles

Sponsored Links

Monday, Jul 24, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords