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Melbourne Auction Results – June 29–30
By Michael Katsaris
July 1st, 2024
The latest Melbourne real estate auction results over the weekend of June 29 to 30, 2024 provides a comprehensive overview of the city’s real estate market performance. Here are the key highlights according to the data from realestate.com.au:
Overall Performance
Clearance Rate: 57%
Total Auctions Scheduled: 900
Auctions Reported: 767
Sold: 475
Withdrawn: 87
Passed In: 205
Melbourne Real Estate Auction Results: A Detailed Breakdown
The auction results indicate a clearance rate of 57%, reflecting a market where just over half of the properties put up for auction were successfully sold. Out of the 900 auctions scheduled, 767 were reported, with 475 properties successfully sold. Additionally, 87 properties were withdrawn from auction, and 205 properties were passed in, meaning they did not meet the reserve price or attract sufficient interest.
Melbourne Real Estate Auction Results: Financial Insights
Total Sales Value: Not specified
Median Sale Price: Not specified
While the total sales value and median sale price were not provided in the search results, the clearance rate and number of properties sold give a good indication of market activity and buyer interest.
Comparison With Other Cities
For context, here are the auction results from other major Australian cities over the same weekend:
Sydney: 61% clearance rate with 758 scheduled auctions.
Brisbane: 40% clearance rate with 68 scheduled auctions.
Canberra: 70% clearance rate with 47 scheduled auctions.
Adelaide: 75% clearance rate with 87 scheduled auctions.
These figures show that Melbourne’s auction market performed moderately well compared to other major cities, with Adelaide showing the highest clearance rate.
Notable Sales
Some notable sales from the weekend include:
37 Trenerry Crescent, Fitzroy: A house with 3 bedrooms sold (price withheld).
142 Charles Street, Fitzroy: A house with 2 bedrooms sold for $1.49 million.
101/118 Vere Street, Abbotsford: A unit with 2 bedrooms was withdrawn from auction.
These results highlight the diverse range of properties and prices in Melbourne’s real estate market.
Conclusion
The auction results from the last weekend in June 2024 show a moderately active market in Melbourne with a clearance rate of 57%. The data reflects a balanced level of activity with a significant number of properties sold, despite some being withdrawn or passed in. This performance provides valuable insights for buyers, sellers, and investors looking to navigate the Melbourne property market.
To learn more about real estate property management and investment opportunities in Melbourne, get in touch with Ham Kerr at mail@hamkerrproperty.com.au.
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