Melbourne auction market rebounds courtesy of hot eastern suburbs | Dr Andrew Wilson

Melbourne’s auction clearance rate revived at the weekend as higher listings and sales from the eastern suburban hot spots lifted the

Melbourne recorded a solid clearance rate of 73.9 percent on Saturday – ahead of the previous weekend’s 67.2 percent and similar to the 74.2 percent recorded over the same weekend last year.

Another significant rise in auction numbers from the unusually quiet offerings of previous weekends continues to provide a more robust indication of the underlying nature of local market activity.

474 homes were listed for auction on Saturday compared to just 189 auctions the previous weekend but still well below the 616 auctions listed over the same weekend last year. 


Melbourne’s eastern suburban hot spots provided the big difference to the overall result this weekend with significantly higher number of listings and sales predictably lifting the market.

The outer east was clearly the best performer recording a strong clearance rate of 83.3 percent.

Next best was the west with  81.9 percent followed by the inner east 77.1 percent, the inner south 73.6 percent, the north east 71.8 percent, the inner city 69.2 percent, the south east 63.3 percent and the north 61.5 percent.

Melbourne’s east accounted for nearly 30 percent of all Melbourne auction sales reported at the weekend with a combined clearance rate of 81.1 percent.


Notable sales reported at the weekend included:

A  5  bedroom home at 6 James  Street Surrey Hills sold for  $2,218,000 by Marshall White, a 3  bedroom unit at 38 Manning  Road Malvern East sold for  $2,115,000 also by Marshall White, another  3  bedroom home at 8 Johnson  Street Hawthorn sold for  $1,810,000 by Marshall White, a  4  bedroom home at 9 Susan  Street Sandringham sold by Buxton for  $1,700,000 and a  4  bedroom unit at 45 Price  Avenue Mount Waverley sold by Jellis Craig for  $1,688,000.

[sam id=54 codes=’true’] The most expensive property reported sold at auction at the weekend was a 5 bedroom home at 5 Winmalee Road Balwyn sold for $2,344,000 by Jellis Craig.

The most affordable property reported sold at the weekend was a 3 bedroom unit at 4 Mildura Crescent Dallas sold for $210,000 by Jason Real Estate Glenroy.

For a list of weekend auction results in Melbourne click here Melbourne auction results Saturday February 14

Melbourne’s auction market bounced back at the weekend with a higher clearance rate due largely to increased activity from the hot eastern suburbs market.

Early trends reveal significantly lower auction numbers over February compared to February last year. February 28th however is shaping as a mini Super Saturday as vendors rush to the market before the Labour Day long weekend holiday.

Latest ABS data confirmed a moderate performance by the Melbourne market last year with an increase in established house prices of just 5.4 percent over the year, well down on the 10 percent rise recorded over the previous year.

Another modest performance is in prospect for the Melbourne market generally this year weighed down by an under performing local economy.

Latest ABS jobless data was sobering with the national rate climbing to a 12 year high of 6.4 percent over January. The Victorian rate also increased to 6.6 percent.

More interest rate cuts are likely – and sooner rather than later.


Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.

Andrew Wilson


Dr Andrew Wilson, of is Australia’s leading property economist.

'Melbourne auction market rebounds courtesy of hot eastern suburbs | Dr Andrew Wilson' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.


Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...