Melbourne sees auction surge

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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

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